WIM INVESTMENT MANAGEMENT Ltd Cuts Position in PDD Holdings Inc. (NASDAQ:PDD)

WIM INVESTMENT MANAGEMENT Ltd trimmed its stake in PDD Holdings Inc. (NASDAQ:PDD) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 264,468 shares of the company’s stock after selling 8,500 shares during the quarter. PDD makes up about 8.8% of WIM INVESTMENT MANAGEMENT Ltd’s investment portfolio, making the stock its 4th largest holding. WIM INVESTMENT MANAGEMENT Ltd’s holdings in PDD were worth $25,651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PDD. OneDigital Investment Advisors LLC raised its stake in shares of PDD by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after purchasing an additional 166 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of PDD by 27.1% during the third quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock valued at $653,000 after purchasing an additional 1,033 shares in the last quarter. Banque Cantonale Vaudoise grew its holdings in PDD by 36.7% during the third quarter. Banque Cantonale Vaudoise now owns 35,318 shares of the company’s stock worth $4,762,000 after acquiring an additional 9,485 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in PDD during the third quarter worth about $5,657,000. Finally, West Family Investments Inc. grew its holdings in PDD by 7.1% during the third quarter. West Family Investments Inc. now owns 3,144 shares of the company’s stock worth $424,000 after acquiring an additional 208 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PDD. Jefferies Financial Group lowered their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark lowered their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Stock Down 1.6 %

Shares of PDD stock opened at $126.79 on Wednesday. The firm has a market cap of $174.45 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.32 and a beta of 0.69. 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 Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock has a 50-day simple moving average of $113.99 and a 200-day simple moving average of $112.70.

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.