Candriam S.C.A. Sells 13,500 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Candriam S.C.A. lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,000 shares of the company's stock after selling 13,500 shares during the period. Candriam S.C.A.'s holdings in PDD were worth $15,421,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of PDD during the 3rd quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD in the 3rd quarter valued at approximately $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the 4th quarter worth approximately $39,000. Brooklyn Investment Group boosted its position in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Down 3.6 %

Shares of PDD stock traded down $4.29 during midday trading on Monday, reaching $115.63. 7,731,931 shares of the company's stock traded hands, compared to its average volume of 8,745,775. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company's 50 day simple moving average is $110.66 and its 200 day simple moving average is $112.09. The company has a market cap of $159.09 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

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Analyst Upgrades and Downgrades

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