Schroder Investment Management Group Sells 16,493,581 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Schroder Investment Management Group decreased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 89.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,041,050 shares of the company’s stock after selling 16,493,581 shares during the period. Schroder Investment Management Group’s holdings in PDD were worth $197,961,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PDD. Allianz SE purchased a new position in PDD in the 4th quarter worth approximately $379,000. DnB Asset Management AS lifted its holdings in shares of PDD by 5.0% during the 4th quarter. DnB Asset Management AS now owns 51,040 shares of the company’s stock worth $4,950,000 after acquiring an additional 2,417 shares during the last quarter. Norges Bank purchased a new position in PDD in the fourth quarter worth $812,246,000. NEOS Investment Management LLC increased its stake in PDD by 20.3% in the fourth quarter. NEOS Investment Management LLC now owns 46,758 shares of the company’s stock valued at $4,535,000 after acquiring an additional 7,892 shares during the last quarter. Finally, BIT Capital GmbH lifted its stake in PDD by 85.5% during the fourth quarter. BIT Capital GmbH now owns 685,365 shares of the company’s stock worth $66,474,000 after purchasing an additional 315,919 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Down 3.1 %

NASDAQ PDD opened at $120.45 on Friday. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a market capitalization of $165.72 billion, a PE ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The business’s 50-day moving average is $118.16 and its 200 day moving average is $114.33.

Analyst Upgrades and Downgrades

PDD has been the topic of several recent research reports. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Nomura reiterated 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. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. increased their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.91.

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.