Sanctuary Advisors LLC Sells 4,599 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Sanctuary Advisors LLC cut its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 34.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,707 shares of the company's stock after selling 4,599 shares during the period. Sanctuary Advisors LLC's holdings in PDD were worth $844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC raised its holdings in shares of PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company's stock valued at $244,000 after purchasing an additional 89 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company's stock valued at $354,000 after purchasing an additional 166 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after purchasing an additional 169 shares during the period. Prospera Private Wealth LLC purchased a new position in PDD during the 3rd quarter worth approximately $27,000. Finally, Fortis Capital Management LLC increased its position in PDD by 13.1% during the third quarter. Fortis Capital Management LLC now owns 1,784 shares of the company's stock worth $241,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Price Performance

PDD stock traded down $1.17 during midday trading on Monday, hitting $112.52. The company's stock had a trading volume of 4,662,464 shares, compared to its average volume of 8,894,252. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. 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 $154.81 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. The stock's 50-day moving average price is $108.86 and its 200-day moving average price is $113.14.

Analysts Set New Price Targets

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