PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Global Endowment Management LP

Global Endowment Management LP reduced its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 81.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,976 shares of the company's stock after selling 58,724 shares during the period. Global Endowment Management LP's holdings in PDD were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission.

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

PDD Stock Performance

Shares of PDD stock traded up $1.34 during trading hours on Friday, reaching $93.69. 10,674,242 shares of the company's stock were exchanged, compared to its average volume of 11,327,470. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69. The company has a market cap of $128.91 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The company's 50 day moving average is $114.56 and its two-hundred day moving average is $112.79.

Wall Street Analyst Weigh In

PDD has been the topic of a number of research analyst reports. Nomura reissued a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a 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. Based on data from MarketBeat, PDD has an average rating of "Moderate Buy" and a consensus 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.