Robeco Institutional Asset Management B.V. Sells 85,959 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Robeco Institutional Asset Management B.V. decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,149,516 shares of the company’s stock after selling 85,959 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in PDD were worth $208,482,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PDD. Prime Capital Investment Advisors LLC lifted its stake in PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after acquiring an additional 89 shares during the period. OneDigital Investment Advisors LLC lifted its stake in PDD by 6.8% during 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 during the period. CWM LLC lifted its stake in PDD by 19.3% during the 3rd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $141,000 after acquiring an additional 169 shares during the period. Avior Wealth Management LLC lifted its stake in PDD by 50.9% during the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after acquiring an additional 169 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in PDD during the 3rd quarter valued at about $27,000. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PDD Price Performance

NASDAQ PDD opened at $112.18 on Wednesday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a market cap of $154.35 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.27 and a beta of 0.66. The company’s 50 day moving average is $101.28 and its two-hundred day moving average is $115.57. The company has a current ratio of 2.15, a quick 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.