PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Everstar Asset Management LLC

Everstar Asset Management LLC lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,004 shares of the company’s stock after selling 1,372 shares during the quarter. Everstar Asset Management LLC’s holdings in PDD were worth $388,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the fourth quarter worth $39,000. Brooklyn Investment Group lifted its position in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC lifted its position in 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 buying an additional 498 shares during the period. Farther Finance Advisors LLC boosted its stake in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after buying an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after buying an additional 249 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Nomura reaffirmed a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Citigroup reissued 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 report on Friday, March 21st. Finally, Jefferies Financial Group lowered their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $120.45 on Monday. The company has a market cap of $165.72 billion, a P/E ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The business’s 50-day simple moving average is $118.16 and its 200 day simple moving average is $114.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.