Ramirez Asset Management Inc. Decreases Position in PDD Holdings Inc. (NASDAQ:PDD)

Ramirez Asset Management Inc. cut its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 99.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466 shares of the company's stock after selling 62,015 shares during the quarter. Ramirez Asset Management Inc.'s holdings in PDD were worth $45,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the fourth quarter valued at about $39,000. Brooklyn Investment Group raised its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares during the last quarter. Global Retirement Partners LLC lifted its stake in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after purchasing an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group reduced their price target on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Citigroup reissued a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research note 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $169.91.

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PDD Trading Down 1.7 %

Shares of PDD stock traded down $2.10 on Monday, hitting $118.35. The stock had a trading volume of 6,595,726 shares, compared to its average volume of 10,673,497. The company's 50 day moving average price is $118.16 and its 200-day moving average price is $114.47. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year 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. The firm has a market capitalization of $162.83 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.32 and a beta of 0.69.

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.