Schroder Investment Management Group Has $197.96 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Schroder Investment Management Group lowered its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 89.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,041,050 shares of the company’s stock after selling 16,493,581 shares during the quarter. Schroder Investment Management Group owned about 0.15% of PDD worth $197,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gordian Capital Singapore Pte Ltd grew its holdings in shares of PDD by 1,218.9% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after buying an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in PDD by 63.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after purchasing an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in PDD during the 3rd quarter worth approximately $74,221,000. Headwater Capital Co Ltd purchased a new stake in shares of PDD in the fourth quarter worth approximately $9,699,000. Finally, Baillie Gifford & Co. lifted 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 purchasing an additional 1,942,891 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $120.45 on Friday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock’s 50-day simple moving average is $118.16 and its 200 day simple moving average is $114.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $165.72 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

Analyst Ratings Changes

Several brokerages recently issued reports on PDD. Nomura reiterated a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upped their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Five investment 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. According to data from MarketBeat, the company 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.