State of Wyoming Has $306,000 Holdings in PDD Holdings Inc. (NASDAQ:PDD)

State of Wyoming trimmed its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 69.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,160 shares of the company's stock after selling 7,140 shares during the period. State of Wyoming's holdings in PDD were worth $306,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Scion Asset Management LLC acquired a new position in shares of PDD during the fourth quarter worth approximately $7,274,000. Siemens Fonds Invest GmbH bought a new position in PDD in the 4th quarter worth approximately $192,000. Shell Asset Management Co. lifted its holdings in PDD by 11.0% during the 4th quarter. Shell Asset Management Co. now owns 33,479 shares of the company's stock worth $3,247,000 after buying an additional 3,307 shares in the last quarter. Rafferty Asset Management LLC boosted its position in PDD by 9.9% in the 4th quarter. Rafferty Asset Management LLC now owns 129,148 shares of the company's stock valued at $12,526,000 after buying an additional 11,666 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in PDD in the 4th quarter valued at $444,000. Institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PDD shares. JPMorgan Chase & Co. boosted their target price on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Nomura reissued a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $164.20.

PDD Stock Up 3.1%

PDD stock opened at $119.80 on Friday. The firm has a market capitalization of $166.78 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.57. The company's 50 day simple moving average is $109.51 and its 200 day simple moving average is $109.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week 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.

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