Northwest & Ethical Investments L.P. Sells 13,654 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Northwest & Ethical Investments L.P. cut its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 46.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,885 shares of the company's stock after selling 13,654 shares during the period. Northwest & Ethical Investments L.P.'s holdings in PDD were worth $2,141,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of PDD in the third quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD in the third quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD in the second quarter worth approximately $32,000. Richardson Financial Services Inc. grew its stake in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock worth $32,000 after acquiring an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of PDD in the third quarter worth approximately $34,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ PDD traded down $2.24 during midday trading on Friday, reaching $96.56. The stock had a trading volume of 9,806,538 shares, compared to its average volume of 10,695,650. The stock has a 50-day moving average of $123.25 and a 200-day moving average of $128.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $132.85 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Nomura Securities upgraded shares of PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Sanford C. Bernstein reduced their price target on shares of PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research note on Tuesday, August 27th. Barclays reduced their price target on shares of PDD from $224.00 to $158.00 and set an "overweight" rating for the company in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and cut their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Daiwa America upgraded shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $173.40.

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.