PDD Holdings Inc. (NASDAQ:PDD) is Oxbow Capital Management HK Ltd’s 3rd Largest Position

Oxbow Capital Management HK Ltd cut its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 34.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 247,000 shares of the company’s stock after selling 130,372 shares during the quarter. PDD comprises approximately 14.2% of Oxbow Capital Management HK Ltd’s investment portfolio, making the stock its 3rd biggest position. Oxbow Capital Management HK Ltd’s holdings in PDD were worth $33,298,000 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 acquired a new position in PDD during the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new position in PDD during the 3rd quarter worth about $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD during the 2nd quarter valued at about $32,000. Richardson Financial Services Inc. grew its position in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of PDD during the third quarter worth about $34,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD stock opened at $99.89 on Friday. The firm has a market capitalization of $137.44 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.28 and a beta of 0.66. 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 52 week low of $88.01 and a 52 week high of $164.69. The firm’s 50 day moving average is $121.96 and its two-hundred day moving average is $127.19.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of research reports. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Bank of America dropped their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Benchmark lowered their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note 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 investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

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.