PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,726,913 shares of the company’s stock after selling 90,012 shares during the quarter. Fisher Asset Management LLC’s holdings in PDD were worth $252,665,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PDD. SC US Ttgp LTD. boosted its holdings in PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after buying an additional 45,048,300 shares in the last quarter. Norges Bank acquired a new position in PDD in the 4th quarter worth approximately $1,075,172,000. Vanguard Group Inc. boosted its stake in PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after purchasing an additional 6,637,418 shares during the period. FMR LLC boosted its stake in PDD by 32.6% in the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after purchasing an additional 4,334,186 shares during the period. Finally, Hhlr Advisors LTD. boosted its stake in PDD by 37.5% in the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PDD shares. Jefferies Financial Group raised their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. UBS Group raised their price objective on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Barclays raised their price objective on shares of PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $184.00 in a research note on Friday, May 24th. Finally, Citigroup lifted their target price on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $188.33.

PDD Stock Performance

Shares of PDD traded down $2.09 during trading hours on Friday, reaching $148.98. 8,585,150 shares of the company traded hands, compared to its average volume of 11,190,986. The stock’s fifty day moving average is $136.63 and its 200 day moving average is $134.90. The stock has a market cap of $204.98 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 0.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. PDD Holdings Inc. has a 1-year low of $66.40 and a 1-year high of $164.69.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. The business had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. Equities research analysts anticipate that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.