PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,800 shares of the company’s stock after selling 2,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in PDD were worth $4,733,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PDD. Prime Capital Investment Advisors LLC boosted its position in PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after purchasing an additional 89 shares during the period. OneDigital Investment Advisors LLC boosted its position in shares of PDD by 6.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after buying an additional 166 shares during the period. CWM LLC boosted its position in shares of PDD by 19.3% in the third quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $141,000 after buying an additional 169 shares during the period. Avior Wealth Management LLC grew its stake in shares of PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after buying an additional 169 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of PDD during the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $118.83 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The firm’s 50-day simple moving average is $103.63 and its 200-day simple moving average is $114.15. The firm has a market cap of $163.49 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

Analyst Ratings Changes

Several brokerages have issued reports on PDD. Benchmark lowered their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group decreased their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. downgraded shares of 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. Finally, Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three 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. According to MarketBeat, PDD has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

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.