PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. reduced its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 46.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,885 shares of the company’s stock after selling 13,654 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in PDD were worth $2,141,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in PDD during the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new position in PDD during the third quarter worth $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. raised its holdings in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in PDD during the third quarter worth $34,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PDD shares. Benchmark reduced their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Sanford C. Bernstein cut their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

Shares of NASDAQ:PDD opened at $96.56 on Friday. The company has a market cap of $132.85 billion, a P/E ratio of 9.43, a P/E/G ratio of 0.28 and a beta of 0.71. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The business has a fifty day simple moving average of $123.25 and a 200-day simple moving average of $128.41.

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.