Eschler Asset Management LLP Sells 29,500 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Eschler Asset Management LLP reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 85.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the company's stock after selling 29,500 shares during the period. PDD accounts for approximately 1.1% of Eschler Asset Management LLP's portfolio, making the stock its 24th biggest holding. Eschler Asset Management LLP's holdings in PDD were worth $485,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PDD. Headwater Capital Co Ltd bought a new position in shares of PDD in the fourth quarter worth about $9,699,000. Carolina Wealth Advisors LLC increased its stake in shares of PDD by 347.1% in the fourth quarter. Carolina Wealth Advisors LLC now owns 2,173 shares of the company's stock worth $211,000 after purchasing an additional 1,687 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of PDD by 5.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,430 shares of the company's stock worth $721,000 after purchasing an additional 400 shares during the period. Sicart Associates LLC increased its stake in shares of PDD by 8.2% in the fourth quarter. Sicart Associates LLC now owns 10,116 shares of the company's stock worth $981,000 after purchasing an additional 767 shares during the period. Finally, Ritholtz Wealth Management increased its stake in shares of PDD by 3.1% in the fourth quarter. Ritholtz Wealth Management now owns 13,894 shares of the company's stock worth $1,348,000 after purchasing an additional 414 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

NASDAQ PDD traded down $0.25 during trading on Friday, reaching $109.65. 3,846,632 shares of the company traded hands, compared to its average volume of 11,163,519. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The stock's 50 day moving average price is $109.90 and its two-hundred day moving average price is $109.46. The company has a market cap of $150.86 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $164.69.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent analyst reports. Citigroup reiterated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note 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 note on Thursday, March 20th. Finally, Nomura reissued a "neutral" rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

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.