PDD Holdings Inc. (NASDAQ:PDD) Stake Decreased by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. trimmed its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 50.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,010 shares of the company’s stock after selling 17,280 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in PDD were worth $1,650,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PDD. Baillie Gifford & Co. increased its holdings in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after buying an additional 1,942,891 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PDD by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after purchasing an additional 268,662 shares during the last quarter. Norges Bank purchased a new stake in shares of PDD during the fourth quarter valued at $812,246,000. Appaloosa LP increased its stake in PDD by 1.0% in the 4th quarter. Appaloosa LP now owns 5,356,132 shares of the company’s stock worth $519,491,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock valued at $627,104,000 after buying an additional 513,248 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of PDD opened at $122.19 on Wednesday. The firm’s 50 day moving average price is $118.77 and its 200 day moving average price is $114.81. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market cap of $168.12 billion, a PE ratio of 11.93, a PEG ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jefferies Financial Group reduced their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Nomura reissued a “neutral” rating and set a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. raised their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD 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.