PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Cut by Candriam S.C.A.

Candriam S.C.A. cut its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 159,000 shares of the company’s stock after selling 13,500 shares during the quarter. Candriam S.C.A.’s holdings in PDD were worth $15,421,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in PDD during the fourth quarter valued at approximately $3,114,000. M&T Bank Corp increased its holdings in shares of PDD by 11.0% in the fourth quarter. M&T Bank Corp now owns 17,570 shares of the company’s stock valued at $1,704,000 after buying an additional 1,740 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PDD by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 927,788 shares of the company’s stock valued at $89,986,000 after acquiring an additional 23,772 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of PDD during the 4th quarter worth $189,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of PDD in the 4th quarter worth $455,000. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PDD has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Benchmark reduced their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group dropped their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Price Performance

PDD opened at $119.82 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a fifty day moving average price of $110.21 and a 200 day moving average price of $112.76. The stock has a market cap of $164.86 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.69.

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.