PDD Holdings Inc. (NASDAQ:PDD) Stock Position Decreased by Focus Partners Wealth

Focus Partners Wealth cut its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 80.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,195 shares of the company's stock after selling 8,846 shares during the period. Focus Partners Wealth's holdings in PDD were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in PDD in the 4th quarter valued at about $39,000. Global Retirement Partners LLC increased its holdings in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in PDD by 30.9% in the 4th 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 last quarter. EverSource Wealth Advisors LLC raised its holdings 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. Finally, Stephens Consulting LLC acquired a new stake in shares of PDD during the fourth quarter worth about $97,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Down 13.6%

NASDAQ PDD traded down $16.26 on Tuesday, hitting $102.98. 50,968,021 shares of the stock traded hands, compared to its average volume of 11,049,137. The stock has a 50-day moving average of $109.22 and a 200 day moving average of $109.16. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $160.00. The company has a market capitalization of $143.36 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Analyst Upgrades and Downgrades

Several research analysts have commented on PDD shares. JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Benchmark reiterated a "buy" rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Jefferies Financial Group decreased their price target on PDD from $156.00 to $121.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Nomura reaffirmed a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and an average target price of $158.11.

PDD Company 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.