Sanctuary Advisors LLC Acquires 3,943 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Sanctuary Advisors LLC grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 42.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,306 shares of the company’s stock after acquiring an additional 3,943 shares during the period. Sanctuary Advisors LLC’s holdings in PDD were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PDD. Envestnet Portfolio Solutions Inc. purchased a new stake in PDD in the second quarter worth about $210,000. Fifth Third Bancorp purchased a new stake in PDD in the 2nd quarter worth approximately $464,000. Value Star Asset Management Hong Kong Ltd raised its stake in PDD by 17.7% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 278,968 shares of the company’s stock worth $37,089,000 after acquiring an additional 42,000 shares during the period. Baillie Gifford & Co. lifted its holdings in PDD by 1.0% during the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after purchasing an additional 348,130 shares in the last quarter. Finally, New Millennium Group LLC bought a new position in shares of PDD in the second quarter worth approximately $1,870,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Down 0.3 %

Shares of PDD opened at $101.00 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $138.96 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The business’s 50 day simple moving average is $113.42 and its 200-day simple moving average is $123.85.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PDD shares. Benchmark decreased their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Barclays decreased their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Nomura Securities raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Sanford C. Bernstein lowered their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have issued 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 price target of $173.40.

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.