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GTS Securities LLC Trims Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

PDD logo with Retail/Wholesale background

GTS Securities LLC reduced its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 93.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,136 shares of the company's stock after selling 186,464 shares during the period. GTS Securities LLC's holdings in PDD were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PDD. Atomi Financial Group Inc. raised its position in PDD by 6.1% in the fourth quarter. Atomi Financial Group Inc. now owns 6,778 shares of the company's stock valued at $657,000 after purchasing an additional 387 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of PDD in the fourth quarter valued at approximately $39,000. Exchange Traded Concepts LLC bought a new position in PDD in the 4th quarter valued at approximately $1,833,000. RV Capital AG boosted its position in PDD by 8.2% during the 4th 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. boosted its position in 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 buying an additional 1,547 shares during the period. 39.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PDD. Macquarie reaffirmed an "outperform" rating on shares of PDD in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 price target on shares of PDD in a research note on Wednesday. Benchmark cut their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday. Jefferies Financial Group set a $121.00 price objective on PDD and gave the company a "buy" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

Check Out Our Latest Stock Report on PDD

PDD Stock Performance

NASDAQ PDD traded up $1.14 during trading hours on Thursday, reaching $99.02. 11,280,702 shares of the company were exchanged, compared to its average volume of 11,055,341. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $155.67. The business's 50 day simple moving average is $108.09 and its 200-day simple moving average is $109.04. 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 stock has a market capitalization of $137.85 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.32 and a beta of 0.57.

About PDD

(Free Report)

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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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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