Signaturefd LLC Decreases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Signaturefd LLC lessened its position in PDD Holdings Inc. (NASDAQ:PDD) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,838 shares of the company’s stock after selling 241 shares during the quarter. Signaturefd LLC’s holdings in PDD were worth $857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PDD. Prospera Private Wealth LLC purchased a new position in shares of PDD in the third quarter valued at approximately $27,000. Nisa Investment Advisors LLC purchased a new stake in PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group raised its position 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 during the period. Global Retirement Partners LLC raised its position in PDD by 939.6% in 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. Finally, Farther Finance Advisors LLC raised its position in PDD by 30.9% in 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. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Down 0.7 %

PDD opened at $125.92 on Thursday. The business has a 50 day moving average price of $114.50 and a two-hundred day moving average price of $112.79. 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 company has a market cap of $173.25 billion, a PE ratio of 12.30, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

Analyst Upgrades and Downgrades

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