Caprock Group LLC Has $467,000 Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Caprock Group LLC cut its position in PDD Holdings Inc. (NASDAQ:PDD) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,813 shares of the company’s stock after selling 131 shares during the quarter. Caprock Group LLC’s holdings in PDD were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Prime Capital Investment Advisors LLC grew its stake in PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after buying an additional 89 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after buying an additional 166 shares during the last quarter. CWM LLC grew its stake in PDD by 19.3% in the 3rd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $141,000 after buying an additional 169 shares during the last quarter. Avior Wealth Management LLC grew its stake in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after buying an additional 169 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in PDD in the 3rd quarter valued at $27,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

PDD Stock Performance

NASDAQ PDD opened at $114.05 on Wednesday. The stock has a market cap of $156.92 billion, a P/E ratio of 11.14, a PEG ratio of 0.29 and a beta of 0.66. The company’s 50-day simple moving average is $101.75 and its 200 day simple moving average is $114.91. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.