E. Ohman J or Asset Management AB Has $4.87 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

E. Ohman J or Asset Management AB trimmed its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 6.0% during the fourth quarter, Holdings Channel reports. The firm owned 50,200 shares of the company’s stock after selling 3,200 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in PDD were worth $4,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after buying an additional 12,253,589 shares in the last quarter. H&H International Investment LLC increased its holdings in shares of PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after acquiring an additional 3,804,600 shares in the last quarter. FMR LLC raised its position in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of PDD by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock worth $4,868,859,000 after purchasing an additional 988,042 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in PDD by 100.5% in the 3rd quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock valued at $559,000 after purchasing an additional 800,614 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD opened at $105.24 on Tuesday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a 50-day moving average of $101.66 and a 200 day moving average of $115.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $144.80 billion, a P/E ratio of 10.28, a PEG ratio of 0.29 and a beta of 0.66.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PDD. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group dropped their price target 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. Benchmark decreased their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and raised their target price for the company from $126.00 to $224.00 in a report on Monday, October 7th. 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 assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, PDD presently has an average 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.