Commonwealth Equity Services LLC Sells 7,089 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Commonwealth Equity Services LLC decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,159 shares of the company’s stock after selling 7,089 shares during the period. Commonwealth Equity Services LLC’s holdings in PDD were worth $1,761,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in shares of PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group increased its stake 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 purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 249 shares during the period. Institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PDD. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group decreased their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Nomura restated a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Performance

PDD stock opened at $120.45 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $165.72 billion, a PE ratio of 11.76, a P/E/G ratio of 0.32 and a beta of 0.69. The business has a 50 day moving average of $118.16 and a 200-day moving average of $114.18. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

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.