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Janney Montgomery Scott LLC Reduces Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

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Janney Montgomery Scott LLC reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 31.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,212 shares of the company's stock after selling 3,714 shares during the period. Janney Montgomery Scott LLC's holdings in PDD were worth $796,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in PDD during the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new stake in PDD during the 3rd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of PDD in the 3rd quarter worth about $34,000. Nisa Investment Advisors LLC acquired a new position in shares of PDD in the 4th quarter valued at about $39,000. Finally, Brooklyn Investment Group boosted its position in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after purchasing an additional 405 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

Shares of PDD stock traded up $2.07 on Monday, reaching $116.34. The company's stock had a trading volume of 8,158,061 shares, compared to its average volume of 8,150,979. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock's 50 day simple moving average is $102.90 and its 200-day simple moving average is $114.34. 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 $160.07 billion, a P/E ratio of 11.36, a PEG ratio of 0.29 and a beta of 0.67.

Wall Street Analysts Forecast Growth

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

View Our Latest Report on PDD

PDD Profile

(Free Report)

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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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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