Vontobel Holding Ltd. Sells 131,978 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Vontobel Holding Ltd. decreased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 56.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,347 shares of the company's stock after selling 131,978 shares during the period. Vontobel Holding Ltd.'s holdings in PDD were worth $9,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in shares of PDD in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD in the 3rd quarter worth approximately $29,000. Nisa Investment Advisors LLC purchased a new stake in shares of PDD in the 4th quarter worth approximately $39,000. Brooklyn Investment Group grew its stake in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares during the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of PDD in the 3rd quarter worth approximately $66,000. Institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PDD. JPMorgan Chase & Co. downgraded PDD from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Benchmark cut their price target on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Dbs Bank downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group cut their target price on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.40.

PDD Stock Performance

Shares of NASDAQ PDD traded down $4.03 during midday trading on Wednesday, hitting $124.43. 8,059,318 shares of the stock traded hands, compared to its average volume of 8,384,105. The firm has a 50-day moving average of $105.72 and a two-hundred day moving average of $114.03. The firm has a market capitalization of $171.20 billion, a P/E ratio of 12.15, a PEG ratio of 0.32 and a beta of 0.67. 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 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.