PDD Holdings Inc. (NASDAQ:PDD) Holdings Lowered by Polen Capital Management LLC

Polen Capital Management LLC trimmed its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 28.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,092 shares of the company’s stock after selling 26,958 shares during the period. Polen Capital Management LLC’s holdings in PDD were worth $6,507,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PDD. Prospera Private Wealth LLC purchased a new stake in PDD in the 3rd quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in PDD in the 3rd quarter worth about $29,000. Nisa Investment Advisors LLC purchased a new stake in PDD in the 4th quarter worth about $39,000. Avior Wealth Management LLC lifted its stake in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after acquiring an additional 169 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 405 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Up 3.2 %

PDD stock opened at $122.54 on Monday. The firm has a market cap of $168.60 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 0.32 and a beta of 0.69. The firm has a fifty day moving average price of $112.87 and a two-hundred day moving average price of $112.24. PDD Holdings Inc. has a fifty-two week low of $88.01 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company 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.