PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. cut its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 50.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,010 shares of the company's stock after selling 17,280 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in PDD were worth $1,650,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in PDD during the fourth quarter worth about $39,000. Brooklyn Investment Group raised its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC lifted its position in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares in the last quarter. Farther Finance Advisors LLC grew its stake in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after buying an additional 249 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note 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 research report on Thursday, March 20th. Finally, Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PDD has an average rating of "Moderate Buy" and an average price target of $169.91.

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PDD Stock Down 4.5 %

Shares of NASDAQ:PDD traded down $5.40 during midday trading on Thursday, reaching $113.67. The company had a trading volume of 11,745,816 shares, compared to its average volume of 10,725,196. The stock has a market capitalization of $156.40 billion, a P/E ratio of 11.10, a PEG ratio of 0.32 and a beta of 0.73. The stock's fifty day moving average price is $119.28 and its 200-day moving average price is $114.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

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.