West Family Investments Inc. Sells 110 Shares of PDD Holdings Inc. (NASDAQ:PDD)

West Family Investments Inc. lowered its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,034 shares of the company’s stock after selling 110 shares during the quarter. West Family Investments Inc.’s holdings in PDD were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PDD. Baillie Gifford & Co. boosted its position in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. FMR LLC lifted its position in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after buying an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after buying an additional 12,253,589 shares in the last quarter. Geode Capital Management LLC grew its position in shares of PDD by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after buying an additional 513,248 shares during the last quarter. Finally, H&H International Investment LLC raised its stake in shares of PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after acquiring an additional 3,804,600 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PDD shares. Benchmark lowered their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their price target on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

Shares of NASDAQ PDD opened at $119.92 on Friday. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The business’s 50 day moving average price is $110.66 and its 200 day moving average price is $112.55. 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 firm has a market cap of $164.99 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.32 and a beta of 0.69.

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.