Mariner LLC Sells 3,439 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Mariner LLC lowered its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,956 shares of the company's stock after selling 3,439 shares during the period. Mariner LLC's holdings in PDD were worth $1,644,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PDD. Jones Financial Companies Lllp boosted its holdings in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after acquiring an additional 97 shares during the period. Farther Finance Advisors LLC boosted its position in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares in the last quarter. New York Life Investment Management LLC lifted its position in shares of PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock worth $245,000 after buying an additional 139 shares during the period. Cibc World Markets Corp increased its position in shares of PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after purchasing an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PDD shares. Jefferies Financial Group reduced their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Nomura reaffirmed a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Finally, Citigroup restated a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Up 0.7 %

PDD stock traded up $0.74 during trading on Friday, reaching $104.01. The stock had a trading volume of 5,059,614 shares, compared to its average volume of 11,285,109. 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 has a market capitalization of $143.10 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. The company's 50 day moving average is $112.23 and its two-hundred day moving average is $111.08.

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.