PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its stake in PDD Holdings Inc. (NASDAQ:PDD) by 64.8% during the 3rd quarter, Holdings Channel reports. The fund owned 99,554 shares of the company’s stock after selling 182,887 shares during the quarter. Janus Henderson Group PLC’s holdings in PDD were worth $13,423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in shares of PDD by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock valued at $4,868,859,000 after purchasing an additional 988,042 shares during the last quarter. FMR LLC grew its stake in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in PDD by 1,374.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after buying an additional 12,253,589 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock valued at $786,237,000 after buying an additional 826,525 shares in the last quarter. Finally, Tairen Capital Ltd lifted its holdings in PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Nomura Securities raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Daiwa America raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group dropped their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Performance

Shares of PDD stock opened at $99.89 on Monday. The stock’s 50-day moving average price is $121.25 and its 200 day moving average price is $126.60. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $137.44 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.28 and a beta of 0.66. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

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.