PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 31.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,195 shares of the company’s stock after selling 118,276 shares during the quarter. Nordea Investment Management AB’s holdings in PDD were worth $24,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of PDD by 13.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,008 shares of the company’s stock valued at $2,793,000 after purchasing an additional 2,442 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in PDD in the 2nd quarter valued at about $40,000. Caprock Group LLC grew its position in shares of PDD by 152.8% in the second quarter. Caprock Group LLC now owns 4,959 shares of the company’s stock valued at $659,000 after purchasing an additional 2,997 shares during the last quarter. Ballentine Partners LLC increased its position in PDD by 4.6% during the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after buying an additional 120 shares in the last quarter. Finally, Ausdal Financial Partners Inc. purchased a new stake in PDD during the 2nd quarter worth about $216,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark lowered their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Jefferies Financial Group reduced their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

PDD opened at $100.32 on Thursday. 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 company’s 50-day moving average price is $105.46 and its 200 day moving average price is $119.01. The firm has a market cap of $138.03 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

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.