Mercer Global Advisors Inc. ADV Sells 7,811 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Mercer Global Advisors Inc. ADV trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 54.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,555 shares of the company’s stock after selling 7,811 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in PDD were worth $636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new stake in PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group lifted its position in PDD by 340.3% in the 4th 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 lifted its position in PDD by 939.6% in 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 in the last quarter. Farther Finance Advisors LLC lifted its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after acquiring an additional 249 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PDD shares. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Jefferies Financial Group cut their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Nomura reaffirmed a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Citigroup reissued a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Stock Down 0.2%

PDD stock opened at $109.65 on Monday. The firm has a market capitalization of $150.86 billion, a PE ratio of 10.71, a P/E/G ratio of 0.32 and a beta of 0.57. The company’s 50-day moving average is $109.90 and its 200-day moving average is $109.46. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.