Union Bancaire Privee UBP SA Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Union Bancaire Privee UBP SA purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,502 shares of the company's stock, valued at approximately $1,343,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in PDD during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC purchased a new position in shares of PDD during the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC purchased a new position in shares of PDD during the 4th quarter worth $39,000. Avior Wealth Management LLC boosted its holdings in shares of PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock worth $68,000 after purchasing an additional 169 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of 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 purchasing an additional 405 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Down 0.5 %

Shares of PDD stock traded down $0.60 during mid-day trading on Tuesday, reaching $119.17. The company's stock had a trading volume of 8,742,821 shares, compared to its average volume of 8,982,651. The company's 50 day simple moving average is $107.52 and its 200-day simple moving average is $113.81. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The firm has a market capitalization of $163.96 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Dbs Bank downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Benchmark cut their price objective on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of PDD from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $170.00 to $105.00 in a 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 on the stock in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.