QRG Capital Management Inc. Sells 2,134 Shares of PDD Holdings Inc. (NASDAQ:PDD)

QRG Capital Management Inc. lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,684 shares of the company’s stock after selling 2,134 shares during the period. QRG Capital Management Inc.’s holdings in PDD were worth $1,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in shares of PDD during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in PDD during the third quarter valued at $29,000. Nisa Investment Advisors LLC purchased a new position in PDD during the fourth quarter worth about $39,000. Brooklyn Investment Group grew its position in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after acquiring an additional 498 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD stock opened at $112.60 on Tuesday. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The firm has a market cap of $154.92 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.32 and a beta of 0.67. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $109.10 and a 200-day moving average of $112.92.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PDD. Benchmark dropped their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a 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 on the stock in a research report on Thursday, November 21st. Three equities research 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 a consensus 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.