Unigestion Holding SA Lowers Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Unigestion Holding SA reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 89.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,740 shares of the company's stock after selling 23,467 shares during the quarter. Unigestion Holding SA's holdings in PDD were worth $369,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD in the third quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD in the second quarter worth approximately $32,000. Richardson Financial Services Inc. increased its stake in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock worth $32,000 after buying an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in PDD during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Up 1.2 %

PDD stock traded up $1.24 during midday trading on Thursday, hitting $104.66. The stock had a trading volume of 8,524,832 shares, compared to its average volume of 10,724,813. The business has a 50-day moving average of $118.95 and a two-hundred day moving average of $125.76. 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 cap of $144.00 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of analyst reports. Bank of America decreased their price objective on shares of PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Nomura Securities upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. cut PDD from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Finally, Sanford C. Bernstein decreased their target price on PDD from $235.00 to $170.00 and set an "outperform" rating for the company 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 stock. According to data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and a consensus price target of $173.40.

PDD 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.