Oaktree Fund Advisors LLC Sells 2,400 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Oaktree Fund Advisors LLC decreased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 12.0% during the 4th quarter, HoldingsChannel reports. The fund owned 17,631 shares of the company’s stock after selling 2,400 shares during the period. PDD comprises approximately 2.9% of Oaktree Fund Advisors LLC’s portfolio, making the stock its 13th biggest holding. Oaktree Fund Advisors LLC’s holdings in PDD were worth $1,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in PDD in the 4th quarter valued at approximately $812,246,000. H&H International Investment LLC increased its position in shares of PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the period. Baillie Gifford & Co. increased its position in shares of PDD by 5.4% during 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 during the period. Capital Today Evergreen Fund L.P. raised its stake in shares of PDD by 60.1% in the fourth quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock valued at $241,853,000 after purchasing an additional 935,854 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in PDD by 100.5% in the third quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock worth $559,000 after purchasing an additional 800,614 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Stock Down 3.1 %

Shares of NASDAQ:PDD opened at $120.45 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $165.72 billion, a P/E ratio of 11.76, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company’s 50-day moving average price is $118.16 and its two-hundred day moving average price is $114.33.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group dropped 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. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Five research 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 stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and an average target price 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.