Pictet Asset Management Holding SA Decreases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Pictet Asset Management Holding SA decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,116,324 shares of the company’s stock after selling 473,749 shares during the period. Pictet Asset Management Holding SA owned about 0.08% of PDD worth $108,272,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PDD. Nisa Investment Advisors LLC purchased a new position in shares of PDD during the 4th quarter valued at approximately $39,000. Brooklyn Investment Group raised its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC boosted its stake in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after acquiring an additional 498 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group reduced their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Nomura reiterated a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark restated a “buy” rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Finally, Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Down 3.1 %

PDD stock opened at $120.45 on Friday. The stock has a market cap of $165.72 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The firm’s 50-day simple moving average is $118.16 and its 200 day simple moving average is $114.18. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. 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 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.