Whale Rock Capital Management LLC Decreases Position in PDD Holdings Inc. (NASDAQ:PDD)

Whale Rock Capital Management LLC lessened its position in PDD Holdings Inc. (NASDAQ:PDD) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,370,266 shares of the company’s stock after selling 157,057 shares during the period. PDD comprises 1.6% of Whale Rock Capital Management LLC’s portfolio, making the stock its 27th largest holding. Whale Rock Capital Management LLC owned about 0.10% of PDD worth $132,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PDD. Nisa Investment Advisors LLC bought a new stake in shares of PDD in the fourth quarter worth approximately $39,000. Brooklyn Investment Group boosted its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the last quarter. Global Retirement Partners LLC grew its position in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC raised its stake in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after buying an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $118.45 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $164.69. The stock has a market cap of $164.90 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.32 and a beta of 0.57. The company’s 50 day moving average is $109.84 and its two-hundred day moving average is $109.27.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PDD shares. Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Nomura reaffirmed a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PDD presently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

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.