Monolith Management Ltd Trims Position in PDD Holdings Inc. (NASDAQ:PDD)

Monolith Management Ltd decreased its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 50.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 89,401 shares of the company's stock after selling 90,000 shares during the period. PDD comprises approximately 4.5% of Monolith Management Ltd's portfolio, making the stock its 10th biggest holding. Monolith Management Ltd's holdings in PDD were worth $8,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new stake in PDD in the fourth quarter worth about $39,000. Brooklyn Investment Group boosted its stake in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC boosted its stake in PDD by 939.6% during 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 in the last quarter. Farther Finance Advisors LLC increased its stake in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after purchasing an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in PDD by 43.2% during 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 in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of NASDAQ:PDD traded up $0.74 during mid-day trading on Friday, reaching $104.01. 5,059,614 shares of the company traded hands, compared to its average volume of 11,285,109. 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 52 week low of $87.11 and a 52 week high of $164.69. The firm 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 company's 50 day moving average price is $112.23 and its 200-day moving average price is $110.87.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent research reports. Nomura reissued a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group cut their target price on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $169.91.

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.