PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Reduced by Franchise Capital Ltd

Franchise Capital Ltd lessened its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 24.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 636,224 shares of the company’s stock after selling 210,000 shares during the period. PDD comprises 28.6% of Franchise Capital Ltd’s holdings, making the stock its 2nd biggest position. Franchise Capital Ltd’s holdings in PDD were worth $61,707,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PDD. Gordian Capital Singapore Pte Ltd grew its stake in PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after buying an additional 14,905 shares in the last quarter. TB Alternative Assets Ltd. boosted its holdings in shares of PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after buying an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of PDD by 13.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after acquiring an additional 27,567 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in PDD by 63.7% during the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after acquiring an additional 89,853 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of NASDAQ PDD opened at $96.89 on Friday. The stock has a market cap of $133.31 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a 50 day simple moving average of $107.41 and a two-hundred day simple moving average of $120.46. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

Several research firms have issued reports on PDD. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Benchmark dropped their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

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.