Swiss National Bank Has $152.49 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Swiss National Bank reduced its stake in PDD Holdings Inc. (NASDAQ:PDD) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,572,244 shares of the company’s stock after selling 3,500 shares during the quarter. Swiss National Bank owned about 0.11% of PDD worth $152,492,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC acquired a new stake in shares of PDD during the third quarter worth $29,000. Nisa Investment Advisors LLC bought a new position in PDD during the fourth quarter worth $39,000. Brooklyn Investment Group lifted its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after buying an additional 405 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after buying an additional 498 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

PDD Stock Performance

Shares of PDD opened at $118.76 on Friday. The firm has a market capitalization of $163.40 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a 50 day moving average price of $112.36 and a two-hundred day moving average price of $111.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current 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.