Gordian Capital Singapore Pte Ltd Sells 5,960 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Gordian Capital Singapore Pte Ltd cut its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 85.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,030 shares of the company's stock after selling 5,960 shares during the period. Gordian Capital Singapore Pte Ltd's holdings in PDD were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PDD. Atomi Financial Group Inc. increased its position in PDD by 6.1% during the fourth quarter. Atomi Financial Group Inc. now owns 6,778 shares of the company's stock valued at $657,000 after acquiring an additional 387 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in PDD in the fourth quarter worth about $39,000. Exchange Traded Concepts LLC bought a new stake in PDD in the fourth quarter worth about $1,833,000. RV Capital AG raised its holdings in shares of PDD by 8.2% in the fourth quarter. RV Capital AG now owns 345,489 shares of the company's stock worth $33,509,000 after buying an additional 26,100 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of PDD by 33.7% during the 4th quarter. Blue Trust Inc. now owns 6,132 shares of the company's stock worth $595,000 after acquiring an additional 1,547 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD stock opened at $116.20 on Thursday. The company has a market capitalization of $161.77 billion, a PE ratio of 11.35, a P/E/G ratio of 0.32 and a beta of 0.57. The company has a 50-day simple moving average of $109.69 and a two-hundred day simple moving average of $109.38. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Wall Street Analyst Weigh In

Several brokerages have commented on PDD. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and raised their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Nomura reissued a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Jefferies Financial Group lowered their price target on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PDD currently has a consensus rating of "Moderate Buy" and an average target price of $174.00.

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.

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