Everstar Asset Management LLC Lowers Stake in PDD Holdings Inc. (NASDAQ:PDD)

Everstar Asset Management LLC lessened its stake in PDD Holdings Inc. (NASDAQ:PDD) by 25.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,004 shares of the company’s stock after selling 1,372 shares during the period. Everstar Asset Management LLC’s holdings in PDD were worth $388,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in shares of PDD in the fourth quarter valued at approximately $39,000. Brooklyn Investment Group increased its stake in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC raised its position in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after acquiring an additional 249 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PDD. Jefferies Financial Group cut their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Finally, Nomura restated a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PDD has an average rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Down 3.1 %

Shares of NASDAQ PDD opened at $120.45 on Monday. The firm’s 50-day moving average is $118.16 and its two-hundred day moving average is $114.47. The company has a market capitalization of $165.72 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month 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.

About PDD

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.