RBF Capital LLC Sells 10,000 Shares of PDD Holdings Inc. (NASDAQ:PDD)

RBF Capital LLC trimmed its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 66.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,000 shares of the company's stock after selling 10,000 shares during the period. RBF Capital LLC's holdings in PDD were worth $674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TB Alternative Assets Ltd. grew its position in shares of PDD by 33.7% during the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company's stock valued at $23,342,000 after acquiring an additional 43,648 shares during the period. Vontobel Holding Ltd. increased its position in PDD by 13.3% in the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company's stock worth $31,589,000 after buying an additional 27,567 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company's stock valued at $30,700,000 after buying an additional 89,853 shares during the period. BOCHK Asset Management Ltd grew its stake in shares of PDD by 3,391.7% during the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company's stock worth $5,649,000 after acquiring an additional 40,700 shares during the period. Finally, M&G PLC increased its holdings in PDD by 14.2% in the 3rd quarter. M&G PLC now owns 247,417 shares of the company's stock worth $33,401,000 after acquiring an additional 30,817 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company's stock.

PDD Stock Up 0.2 %

PDD traded up $0.23 during midday trading on Thursday, reaching $98.94. The company's stock had a trading volume of 4,383,496 shares, compared to its average volume of 10,662,071. The stock's 50-day moving average is $122.57 and its 200-day moving average is $127.39. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The firm has a market capitalization of $136.13 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.28 and a beta of 0.66. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Nomura Securities raised shares of PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Citigroup cut PDD from a "buy" rating to a "neutral" rating and lowered their price target for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Macquarie raised shares of PDD from a "neutral" rating to an "outperform" rating and raised their target price for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Bank of America lowered their price target on PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Finally, Daiwa America upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.