Blue Trust Inc. Decreases Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Blue Trust Inc. cut its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 47.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,432 shares of the company’s stock after selling 2,153 shares during the period. Blue Trust Inc.’s holdings in PDD were worth $236,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PDD. AustralianSuper Pty Ltd grew its position in shares of PDD by 42.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 22,789 shares of the company’s stock valued at $2,210,000 after purchasing an additional 6,748 shares in the last quarter. Banque Pictet & Cie SA bought a new position in shares of PDD in the 4th quarter valued at about $587,000. Asset Management One Co. Ltd. lifted its stake in PDD by 11.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 158,720 shares of the company’s stock worth $15,467,000 after purchasing an additional 16,411 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in PDD in the fourth quarter worth about $194,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in PDD by 236.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 53,264 shares of the company’s stock worth $5,161,000 after purchasing an additional 37,421 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

PDD has been the subject of several research analyst reports. Benchmark decreased their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, 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 report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Down 3.1 %

NASDAQ PDD opened at $124.43 on Thursday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month 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. The company has a market capitalization of $171.20 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. The firm’s fifty day moving average price is $106.14 and its 200 day moving average price is $114.10.

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.