E. Ohman J or Asset Management AB Has $4.87 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

E. Ohman J or Asset Management AB lessened its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 50,200 shares of the company’s stock after selling 3,200 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in PDD were worth $4,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Prospera Private Wealth LLC acquired a new position in PDD in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in PDD during the third quarter worth about $29,000. Future Financial Wealth Managment LLC acquired a new stake in PDD during the third quarter worth about $34,000. Nisa Investment Advisors LLC bought a new position in PDD in the 4th quarter valued at about $39,000. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of PDD in the 3rd quarter valued at approximately $66,000. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of NASDAQ:PDD opened at $105.24 on Tuesday. The firm has a market cap of $144.80 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The firm’s fifty day moving average is $101.66 and its 200-day moving average is $115.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PDD shares. Jefferies Financial Group decreased their price objective 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. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark reduced their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Three equities research 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, PDD presently has an average rating of “Moderate Buy” and a consensus price target 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.