PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by EMC Capital Management

EMC Capital Management decreased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 82.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,300 shares of the company’s stock after selling 6,236 shares during the period. EMC Capital Management’s holdings in PDD were worth $126,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of PDD in the third quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD in the 3rd quarter valued at approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in PDD in the 3rd quarter worth approximately $34,000. Nisa Investment Advisors LLC purchased a new position in PDD during the 4th quarter worth approximately $39,000. Finally, Carolina Wealth Advisors LLC purchased a new position in PDD during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $115.40 on Friday. The company has a 50 day moving average price of $101.19 and a two-hundred day moving average price of $115.54. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a market capitalization of $158.78 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

Analyst Ratings Changes

Several analysts have recently commented on the company. Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Company 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.