Ballentine Partners LLC Has $234,000 Stake in PDD Holdings Inc. (NASDAQ:PDD)

Ballentine Partners LLC cut its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,416 shares of the company’s stock after selling 606 shares during the quarter. Ballentine Partners LLC’s holdings in PDD were worth $234,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group lifted 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 acquiring an additional 405 shares during the last quarter. Yarbrough Capital LLC acquired a new stake in PDD during the 4th quarter worth approximately $1,942,000. Ritholtz Wealth Management boosted its stake in PDD by 3.1% in the 4th quarter. Ritholtz Wealth Management now owns 13,894 shares of the company’s stock valued at $1,348,000 after purchasing an additional 414 shares during the period. Sicart Associates LLC grew its holdings in PDD by 8.2% in the 4th quarter. Sicart Associates LLC now owns 10,116 shares of the company’s stock valued at $981,000 after buying an additional 767 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in PDD by 5.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,430 shares of the company’s stock worth $721,000 after buying an additional 400 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Stock Up 7.0 %

PDD stock opened at $111.34 on Friday. The stock has a market capitalization of $153.19 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.27 and a beta of 0.66. 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 price of $101.52 and a 200-day moving average price of $116.28. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

Analysts Set New Price Targets

PDD has been the topic of several research reports. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark lowered their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and cut their price target for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their target price for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Company 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.