Commonwealth Equity Services LLC Sells 7,089 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Commonwealth Equity Services LLC decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,159 shares of the company’s stock after selling 7,089 shares during the period. Commonwealth Equity Services LLC’s holdings in PDD were worth $1,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd grew its stake in PDD by 1,218.9% in the 3rd 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 in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after acquiring an additional 14,905 shares during the period. Maple Rock Capital Partners Inc. purchased a new position in shares of PDD in the third quarter valued at $74,221,000. Headwater Capital Co Ltd bought a new stake in shares of PDD during the 4th quarter valued at $9,699,000. Finally, Baillie Gifford & Co. lifted its holdings in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PDD. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group cut their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Citigroup restated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Finally, Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PDD presently has an average rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Price Performance

PDD opened at $120.45 on Friday. The stock has a market capitalization of $165.72 billion, a P/E ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69. 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 $88.01 and a 12-month high of $164.69. The stock has a 50-day moving average price of $118.16 and a 200-day moving average price of $114.18.

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.