PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 77.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,750 shares of the company's stock after selling 59,964 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in PDD were worth $1,722,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new stake in PDD during the 4th quarter valued at approximately $39,000. Brooklyn Investment Group lifted its holdings in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC grew its position in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC increased its stake in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after buying an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after buying an additional 249 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Trading Up 0.7 %

PDD traded up $0.74 during trading on Friday, hitting $104.01. The company's stock had a trading volume of 5,059,614 shares, compared to its average volume of 11,272,116. The stock has a market cap of $143.10 billion, a PE ratio of 10.16, a PEG ratio of 0.32 and a beta of 0.73. The firm's 50 day moving average price is $112.72 and its 200-day moving average price is $111.57. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analysts Set New Price Targets

A number of brokerages recently commented on PDD. Citigroup restated a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Nomura reiterated a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, Jefferies Financial Group decreased their target price on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Five 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 company. According to data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average target price of $169.91.

About PDD

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.