Oberweis Asset Management Inc. Cuts Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Oberweis Asset Management Inc. cut its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 29.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the company's stock after selling 5,000 shares during the quarter. Oberweis Asset Management Inc.'s holdings in PDD were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in PDD in the 4th quarter worth $812,246,000. Sanders Capital LLC purchased a new position in shares of PDD during the fourth quarter valued at about $499,972,000. FMR LLC increased its position in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after buying an additional 4,673,022 shares during the period. FIL Ltd grew its holdings in shares of PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after acquiring an additional 3,350,627 shares during the period. Finally, Capital International Investors bought a new position in PDD in the fourth quarter worth $246,823,000. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of analyst reports. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Citigroup reissued a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. upped their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group dropped their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, Nomura reissued a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PDD has an average rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Performance

NASDAQ PDD traded up $0.30 on Wednesday, hitting $104.45. 2,803,566 shares of the company traded hands, compared to its average volume of 11,216,665. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The business's 50 day moving average price is $111.40 and its 200-day moving average price is $110.53. The company has a market capitalization of $143.71 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week high of $164.69.

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.