Origin Asset Management LLP Has $2.40 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Origin Asset Management LLP decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 94.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,709 shares of the company's stock after selling 413,170 shares during the period. PDD makes up approximately 5.5% of Origin Asset Management LLP's investment portfolio, making the stock its 5th largest position. Origin Asset Management LLP's holdings in PDD were worth $2,397,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Prime Capital Investment Advisors LLC boosted its position in shares of PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company's stock worth $244,000 after purchasing an additional 89 shares during the period. OneDigital Investment Advisors LLC lifted its stake in PDD by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company's stock worth $354,000 after purchasing an additional 166 shares in the last quarter. CWM LLC boosted its position in shares of PDD by 19.3% during the third quarter. CWM LLC now owns 1,046 shares of the company's stock worth $141,000 after buying an additional 169 shares during the period. Avior Wealth Management LLC grew its stake in shares of PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after buying an additional 169 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of PDD in the third quarter valued at $27,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Up 1.1 %

PDD stock traded up $1.35 during trading on Wednesday, reaching $118.83. 6,587,921 shares of the stock traded hands, compared to its average volume of 8,089,438. The business's 50 day moving average price is $103.63 and its 200-day moving average price is $114.15. The firm has a market capitalization of $163.49 billion, a PE ratio of 11.60, a P/E/G ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PDD. Benchmark lowered their target price on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Finally, Dbs Bank cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, PDD presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.40.

PDD Company 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.