PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 56.3% in the 4th quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new stake in PDD during the 3rd quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in PDD during the 3rd quarter worth about $29,000. Nisa Investment Advisors LLC purchased a new stake in PDD during the 4th quarter worth about $39,000. Carolina Wealth Advisors LLC purchased a new stake in PDD during the 3rd quarter worth about $66,000. Finally, Avior Wealth Management LLC lifted its holdings in PDD by 50.9% during the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after buying an additional 169 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Up 2.2 %

PDD opened at $124.16 on Friday. The business has a 50 day moving average price of $104.97 and a two-hundred day moving average price of $114.21. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $170.83 billion, a PE ratio of 12.13, a P/E/G ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PDD shares. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Benchmark reduced their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus 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.