Henry James International Management Inc. Reduces Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Henry James International Management Inc. trimmed its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,151 shares of the company’s stock after selling 2,262 shares during the quarter. Henry James International Management Inc.’s holdings in PDD were worth $1,566,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Prime Capital Investment Advisors LLC boosted its stake in shares of PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after acquiring an additional 89 shares in the last quarter. New York Life Investment Management LLC raised its position in shares of PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in PDD by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after acquiring an additional 166 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 worth $68,000 after acquiring an additional 169 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in PDD in the 3rd quarter worth about $27,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 4.2 %

Shares of PDD stock opened at $113.69 on Friday. The company has a market capitalization of $156.42 billion, a P/E ratio of 11.10, a PEG ratio of 0.32 and a beta of 0.67. 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 business’s fifty day moving average price is $108.86 and its two-hundred day moving average price is $113.56. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price objective 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. Benchmark decreased their price objective 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. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.