Orion Portfolio Solutions LLC Sells 754 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Orion Portfolio Solutions LLC cut its stake in PDD Holdings Inc. (NASDAQ:PDD) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,434 shares of the company’s stock after selling 754 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in PDD were worth $1,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PDD. Norges Bank bought a new position in shares of PDD during the fourth quarter valued at approximately $812,246,000. Baillie Gifford & Co. boosted its holdings in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. Capital Today Evergreen Fund L.P. grew its position in PDD by 60.1% in the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock valued at $241,853,000 after acquiring an additional 935,854 shares during the last quarter. HighTower Advisors LLC increased its stake in PDD by 100.5% in the third quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock worth $559,000 after purchasing an additional 800,614 shares during the period. Finally, Royal London Asset Management Ltd. lifted its position in shares of PDD by 82,362.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 631,666 shares of the company’s stock worth $61,265,000 after purchasing an additional 630,900 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD stock opened at $104.21 on Friday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a market capitalization of $143.38 billion, a PE ratio of 10.18, a P/E/G ratio of 0.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a 50-day simple moving average of $119.14 and a two-hundred day simple moving average of $114.99.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PDD shares. JPMorgan Chase & Co. upped their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group reduced their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Benchmark restated a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

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.