Hhlr Advisors LTD. Has $642.61 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Hhlr Advisors LTD. trimmed its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 46.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,766,780 shares of the company’s stock after selling 4,125,667 shares during the quarter. PDD accounts for about 14.1% of Hhlr Advisors LTD.’s holdings, making the stock its 3rd biggest holding. Hhlr Advisors LTD. owned approximately 0.35% of PDD worth $642,610,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in PDD during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in PDD during the 3rd quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. raised its holdings in PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after buying an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in PDD during the 3rd quarter valued at $34,000. 29.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on PDD shares. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Bank of America reduced their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Barclays reduced their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Finally, Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Down 2.3 %

NASDAQ:PDD opened at $96.56 on Friday. The firm 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 debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. 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 50-day simple moving average of $123.25 and a two-hundred 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.