Two Sigma Securities LLC Cuts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Two Sigma Securities LLC trimmed its position in PDD Holdings Inc. (NASDAQ:PDD) by 86.6% in the fourth quarter, HoldingsChannel reports. The firm owned 7,067 shares of the company’s stock after selling 45,833 shares during the quarter. Two Sigma Securities LLC’s holdings in PDD were worth $685,000 as of its most recent SEC filing.

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

PDD Trading Up 0.7 %

Shares of PDD stock opened at $104.01 on Friday. The company’s 50-day moving average price is $112.23 and its 200-day moving average price is $111.29. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The company has a market cap of $143.10 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.32 and a beta of 0.73.

Wall Street Analyst Weigh In

A number of research firms recently commented on PDD. JPMorgan Chase & Co. lifted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of PDD in a research report 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. Citigroup restated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Finally, Nomura reiterated a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $169.91.

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.