J. Safra Sarasin Holding AG Sells 68,311 Shares of PDD Holdings Inc. (NASDAQ:PDD)

J. Safra Sarasin Holding AG trimmed its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 71.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,201 shares of the company's stock after selling 68,311 shares during the quarter. J. Safra Sarasin Holding AG's holdings in PDD were worth $2,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Stifel Financial Corp lifted its holdings in shares of PDD by 172.8% during the third quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock valued at $863,000 after purchasing an additional 4,054 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of PDD by 1,019.4% during the third quarter. Tidal Investments LLC now owns 71,173 shares of the company's stock valued at $9,595,000 after purchasing an additional 64,815 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in PDD during the third quarter valued at approximately $653,000. Lord Abbett & CO. LLC boosted its holdings in 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 purchasing an additional 14,905 shares during the last quarter. Finally, Range Financial Group LLC purchased a new stake in PDD during the 4th quarter valued at $224,000. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

NASDAQ:PDD opened at $94.36 on Tuesday. The stock has a 50-day moving average price of $114.07 and a 200 day moving average price of $112.09. 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 $87.11 and a 12-month high of $164.69. The stock has a market capitalization of $129.83 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.32 and a beta of 0.73.

Analyst Upgrades and Downgrades

Several analysts recently commented on PDD shares. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Nomura reissued a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Finally, Jefferies Financial Group lowered 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.

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