Two Sigma Securities LLC Trims Position in PDD Holdings Inc. (NASDAQ:PDD)

Two Sigma Securities LLC lessened its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 86.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,067 shares of the company's stock after selling 45,833 shares during the quarter. Two Sigma Securities LLC's holdings in PDD were worth $685,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PDD. Tidal Investments LLC lifted its holdings in shares of PDD by 1,019.4% during the third quarter. Tidal Investments LLC now owns 71,173 shares of the company's stock worth $9,595,000 after purchasing an additional 64,815 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in PDD during the 3rd quarter worth about $653,000. Lord Abbett & CO. LLC raised its stake in shares of PDD by 63.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock valued at $5,155,000 after buying an additional 14,905 shares during the last quarter. Range Financial Group LLC acquired a new position in shares of PDD in the 4th quarter valued at about $224,000. Finally, Headwater Capital Co Ltd purchased a new position in PDD during the fourth quarter valued at approximately $9,699,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent analyst reports. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Citigroup reissued a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Performance

NASDAQ PDD traded up $0.72 on Thursday, hitting $106.29. 1,937,432 shares of the company's stock were exchanged, compared to its average volume of 11,204,174. The firm has a market cap of $146.24 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.32 and a beta of 0.73. The firm's 50-day moving average price is $110.88 and its two-hundred day moving average price is $110.50. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.