Ashburton Jersey Ltd Sells 471 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Ashburton Jersey Ltd lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,891 shares of the company’s stock after selling 471 shares during the quarter. Ashburton Jersey Ltd’s holdings in PDD were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PDD. Jones Financial Companies Lllp increased its holdings in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after buying an additional 97 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp lifted its stake in PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after purchasing an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

PDD Stock Down 8.3 %

PDD opened at $104.21 on Friday. The firm has a market capitalization of $143.38 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a fifty day moving average price of $119.14 and a 200-day moving average price of $114.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.