Liontrust Investment Partners LLP Cuts Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Liontrust Investment Partners LLP cut its stake in PDD Holdings Inc. (NASDAQ:PDD) by 23.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,300 shares of the company’s stock after selling 13,819 shares during the period. Liontrust Investment Partners LLP’s holdings in PDD were worth $6,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bailard Inc. acquired a new position in PDD during the 2nd quarter worth approximately $931,000. Bank of New York Mellon Corp lifted its position in shares of PDD by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,504,499 shares of the company’s stock worth $200,023,000 after purchasing an additional 172,515 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of PDD during the second quarter worth $1,870,000. Baillie Gifford & Co. increased its holdings in PDD by 1.0% in the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after buying an additional 348,130 shares during the last quarter. Finally, Value Star Asset Management Hong Kong Ltd raised its stake in PDD by 17.7% in the second quarter. Value Star Asset Management Hong Kong Ltd now owns 278,968 shares of the company’s stock valued at $37,089,000 after buying an additional 42,000 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday. Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a report on Monday. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and reduced their price target for the company from $194.00 to $120.00 in a research report on Tuesday. Finally, Bank of America dropped their price objective on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average target price of $172.58.

PDD Price Performance

PDD stock opened at $100.00 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The business has a 50 day simple moving average of $136.31 and a 200-day simple moving average of $132.92. PDD Holdings Inc. has a 12 month low of $79.00 and a 12 month high of $164.69. The stock has a market capitalization of $137.59 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.26 and a beta of 0.63.

About PDD

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.