PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC cut its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 54.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,233 shares of the company's stock after selling 2,666 shares during the period. Bridgefront Capital LLC's holdings in PDD were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in PDD in the fourth quarter valued at approximately $39,000. Brooklyn Investment Group raised its stake in PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares during the last quarter. Global Retirement Partners LLC lifted 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 worth $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of 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 acquiring an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PDD shares. Nomura reiterated a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Jefferies Financial Group lowered their target price 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. JPMorgan Chase & Co. increased their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Citigroup reissued a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Stock Down 0.2 %

PDD traded down $0.25 on Friday, reaching $109.65. The company's stock had a trading volume of 3,846,632 shares, compared to its average volume of 11,163,519. 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 business's 50 day moving average is $109.90 and its 200 day moving average is $109.46. The stock has a market cap of $150.86 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69.

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.