Orion Portfolio Solutions LLC Sells 384 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Orion Portfolio Solutions LLC lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 3.3% during the third quarter, HoldingsChannel.com reports. The fund owned 11,188 shares of the company’s stock after selling 384 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in PDD were worth $1,508,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. TB Alternative Assets Ltd. increased its stake in shares of PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after acquiring an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of PDD by 13.3% during the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after purchasing an additional 27,567 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares in the last quarter. BOCHK Asset Management Ltd boosted its position in shares of PDD by 3,391.7% during the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after purchasing an additional 40,700 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. acquired a new stake in shares of PDD in the 3rd quarter valued at about $74,221,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 2.3 %

PDD opened at $102.27 on Friday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market capitalization of $140.71 billion, a P/E ratio of 9.99, a PEG ratio of 0.30 and a beta of 0.66. The company’s 50-day moving average is $116.95 and its 200 day moving average is $125.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and cut their price target for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Benchmark cut their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Finally, Bank of America reduced their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Three 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

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.