PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Cut by Cerity Partners LLC

Cerity Partners LLC cut its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,882 shares of the company’s stock after selling 1,999 shares during the quarter. Cerity Partners LLC’s holdings in PDD were worth $1,871,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the third quarter worth $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD during the 3rd quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. lifted its position in PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in PDD in the 3rd quarter valued at approximately $34,000. Institutional investors own 29.07% of the company’s stock.

PDD Trading Up 2.5 %

Shares of PDD opened at $98.98 on Tuesday. The stock’s fifty day simple moving average is $123.25 and its 200-day simple moving average is $128.24. The firm has a market capitalization of $136.18 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month 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.

Analyst Ratings Changes

Several research firms have issued reports on PDD. Bank of America decreased their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Jefferies Financial Group lowered their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average 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.