Altfest L J & Co. Inc. Trims Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Altfest L J & Co. Inc. decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,067 shares of the company’s stock after selling 1,365 shares during the period. Altfest L J & Co. Inc.’s holdings in PDD were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PDD. E Fund Management Hong Kong Co. Ltd. raised its stake in PDD by 136.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company’s stock worth $10,857,000 after acquiring an additional 148,166 shares during the last quarter. Advisor Group Holdings Inc. grew its position in PDD by 100.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock worth $152,000 after purchasing an additional 1,872 shares during the period. Raymond James & Associates grew its position in PDD by 16.1% during the 1st quarter. Raymond James & Associates now owns 16,641 shares of the company’s stock worth $667,000 after purchasing an additional 2,304 shares during the period. American Century Companies Inc. grew its position in PDD by 30.7% during the 1st quarter. American Century Companies Inc. now owns 28,785 shares of the company’s stock worth $1,155,000 after purchasing an additional 6,766 shares during the period. Finally, Panagora Asset Management Inc. grew its position in PDD by 16.5% during the 1st quarter. Panagora Asset Management Inc. now owns 40,548 shares of the company’s stock worth $1,626,000 after purchasing an additional 5,744 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PDD shares. Citigroup increased their price target on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Barclays raised their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Benchmark raised their target price on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group lifted their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a research report on Monday, March 11th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Trading Down 3.0 %

NASDAQ PDD traded down $3.58 on Wednesday, reaching $116.52. The stock had a trading volume of 5,531,510 shares, compared to its average volume of 8,808,695. The firm has a market capitalization of $153.76 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 0.31 and a beta of 0.67. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99. The stock has a fifty day moving average price of $128.76 and a two-hundred day moving average price of $123.38.

PDD 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.