Cigna Investments Inc. New Has $1.24 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Cigna Investments Inc. New decreased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,814 shares of the company’s stock after selling 585 shares during the period. Cigna Investments Inc. New’s holdings in PDD were worth $1,243,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Focus Financial Network Inc. acquired a new position in shares of PDD in the 4th quarter valued at approximately $208,000. Newbridge Financial Services Group Inc. acquired a new position in PDD in the 4th quarter valued at approximately $126,000. Vaughan Nelson Investment Management L.P. increased its position in PDD by 8.7% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 24,385 shares of the company’s stock valued at $2,365,000 after acquiring an additional 1,950 shares during the period. WCM Investment Management LLC increased its position in PDD by 657.3% in the 4th quarter. WCM Investment Management LLC now owns 12,745 shares of the company’s stock valued at $1,203,000 after acquiring an additional 11,062 shares during the period. Finally, Apollon Wealth Management LLC increased its position in PDD by 17.7% in the 4th quarter. Apollon Wealth Management LLC now owns 3,077 shares of the company’s stock valued at $298,000 after acquiring an additional 463 shares during the period. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PDD shares. Jefferies Financial Group reduced their price objective 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. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark cut their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Three research 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. Based on data from MarketBeat, PDD currently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Up 1.8 %

PDD stock opened at $116.34 on Tuesday. The company has a market capitalization of $160.07 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company’s 50 day moving average price is $102.90 and its two-hundred day moving average price is $114.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.