Trivest Advisors Ltd Sells 773,700 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Trivest Advisors Ltd lowered its position in PDD Holdings Inc. (NASDAQ:PDD) by 62.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 460,000 shares of the company’s stock after selling 773,700 shares during the quarter. PDD comprises approximately 2.0% of Trivest Advisors Ltd’s portfolio, making the stock its 19th largest holding. Trivest Advisors Ltd’s holdings in PDD were worth $44,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. OneDigital Investment Advisors LLC raised its holdings in shares of 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 acquiring an additional 166 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of PDD by 27.1% in the third quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock worth $653,000 after purchasing an additional 1,033 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in PDD by 36.7% in the third quarter. Banque Cantonale Vaudoise now owns 35,318 shares of the company’s stock valued at $4,762,000 after purchasing an additional 9,485 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in PDD during the third quarter valued at approximately $5,657,000. Finally, West Family Investments Inc. lifted its position in PDD by 7.1% during the third quarter. West Family Investments Inc. now owns 3,144 shares of the company’s stock valued at $424,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Benchmark lowered their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Down 1.6 %

Shares of PDD stock opened at $126.79 on Wednesday. The company’s 50 day moving average price is $113.99 and its 200-day moving average price is $112.70. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. 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 stock has a market capitalization of $174.45 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.32 and a beta of 0.69.

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.