PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC cut its stake in PDD Holdings Inc. (NASDAQ:PDD) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,084 shares of the company’s stock after selling 21,622 shares during the period. Janney Capital Management LLC’s holdings in PDD were worth $3,500,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new position in shares of PDD in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new position in PDD during the third quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in PDD in the third quarter worth $34,000. Nisa Investment Advisors LLC bought a new stake in PDD during the fourth quarter valued at $39,000. Finally, Brooklyn Investment Group raised its holdings in shares of PDD by 340.3% during 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. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

Shares of PDD opened at $102.07 on Wednesday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The firm has a market capitalization of $140.44 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.27 and a beta of 0.66. The stock’s fifty day moving average is $101.95 and its 200-day moving average is $116.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PDD. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group dropped their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Benchmark lowered their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.