PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 54.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,555 shares of the company's stock after selling 7,811 shares during the period. Mercer Global Advisors Inc. ADV's holdings in PDD were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC bought a new position in shares of PDD in the fourth quarter worth about $39,000. Brooklyn Investment Group grew its stake in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC increased its position 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 acquiring an additional 498 shares during the period. Farther Finance Advisors LLC raised its stake in shares of PDD by 30.9% during 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 raised its stake in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and lifted their target price for the company from $127.00 to $165.00 in a research note on Monday. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Nomura reiterated a "neutral" rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, PDD has an average rating of "Moderate Buy" and an average target price of $174.00.

PDD Stock Performance

Shares of NASDAQ:PDD traded down $0.56 during midday trading on Wednesday, reaching $118.89. The company's stock had a trading volume of 6,939,084 shares, compared to its average volume of 11,165,774. 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 fifty day moving average of $109.82 and a 200 day moving average of $109.49. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69. The firm has a market capitalization of $163.58 billion, a PE ratio of 11.61, a P/E/G ratio of 0.32 and a beta of 0.57.

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.