Ramirez Asset Management Inc. Has $45,000 Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Ramirez Asset Management Inc. reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 99.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 466 shares of the company’s stock after selling 62,015 shares during the quarter. Ramirez Asset Management Inc.’s holdings in PDD were worth $45,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd raised its stake in shares of PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after acquiring an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after acquiring an additional 14,905 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in PDD in the 3rd quarter valued at $74,221,000. Headwater Capital Co Ltd acquired a new position in shares of PDD during the 4th quarter worth about $9,699,000. Finally, Baillie Gifford & Co. boosted its position in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD opened at $124.36 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $171.10 billion, a P/E ratio of 12.14, a PEG ratio of 0.32 and a beta of 0.69. The business has a fifty day moving average of $117.86 and a 200 day moving average of $113.99. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Nomura restated a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.91.

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.