Tiger Pacific Capital LP Lowers Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Tiger Pacific Capital LP decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 70.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,372 shares of the company’s stock after selling 227,800 shares during the period. PDD makes up 2.5% of Tiger Pacific Capital LP’s holdings, making the stock its 7th biggest position. Tiger Pacific Capital LP’s holdings in PDD were worth $9,444,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PDD. Hennion & Walsh Asset Management Inc. increased its position in PDD by 5.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,430 shares of the company’s stock worth $721,000 after buying an additional 400 shares during the period. Ritholtz Wealth Management increased its position in shares of PDD by 3.1% in the fourth quarter. Ritholtz Wealth Management now owns 13,894 shares of the company’s stock worth $1,348,000 after purchasing an additional 414 shares during the period. Brooklyn Investment Group increased its position in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the period. Atomi Financial Group Inc. increased its position in shares of PDD by 6.1% in the fourth quarter. Atomi Financial Group Inc. now owns 6,778 shares of the company’s stock worth $657,000 after purchasing an additional 387 shares during the period. Finally, Nisa Investment Advisors LLC bought a new position in shares of PDD in the fourth quarter worth $39,000. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD stock opened at $117.61 on Friday. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $109.83 and its two-hundred day moving average price is $109.37. The stock has a market cap of $163.73 billion, a PE ratio of 11.49, a P/E/G ratio of 0.32 and a beta of 0.57.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PDD. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Citigroup upgraded PDD from a “neutral” rating to a “buy” rating and raised their price target for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. Jefferies Financial Group decreased their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. raised their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Benchmark restated a “buy” rating and issued a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.00.

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.