PDD Holdings Inc. (NASDAQ:PDD) is Quaero Capital S.A.'s 7th Largest Position

Quaero Capital S.A. reduced its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 32.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,336 shares of the company's stock after selling 9,146 shares during the period. PDD comprises about 2.9% of Quaero Capital S.A.'s investment portfolio, making the stock its 7th largest holding. Quaero Capital S.A.'s holdings in PDD were worth $2,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of PDD by 2.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company's stock worth $491,000 after buying an additional 66 shares during the last quarter. Mariner LLC grew its stake in PDD by 1.4% in the fourth quarter. Mariner LLC now owns 9,607 shares of the company's stock valued at $783,000 after purchasing an additional 133 shares in the last quarter. CWM LLC increased its position in shares of PDD by 22.7% during the 3rd quarter. CWM LLC now owns 758 shares of the company's stock worth $74,000 after purchasing an additional 140 shares during the last quarter. Cerity Partners LLC raised its stake in shares of PDD by 3.2% during the 4th quarter. Cerity Partners LLC now owns 4,912 shares of the company's stock worth $401,000 after purchasing an additional 152 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of PDD by 3.6% during the 1st quarter. Bleakley Financial Group LLC now owns 4,640 shares of the company's stock worth $352,000 after purchasing an additional 160 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PDD shares. JPMorgan Chase & Co. dropped their price target on shares of PDD from $195.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group raised their target price on shares of PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Citigroup boosted their price target on PDD from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Benchmark upped their price objective on PDD from $215.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Barclays raised their price objective on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $146.85.

PDD Stock Performance

Shares of PDD traded down $1.40 during midday trading on Wednesday, reaching $119.70. 5,318,900 shares of the stock were exchanged, compared to its average volume of 8,442,784. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The stock's 50 day simple moving average is $123.98 and its 200 day simple moving average is $125.00. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99. The company has a market cap of $157.95 billion, a P/E ratio of 21.31, a PEG ratio of 0.30 and a beta of 0.67.

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.