J. Safra Sarasin Holding AG Sells 68,311 Shares of PDD Holdings Inc. (NASDAQ:PDD)

J. Safra Sarasin Holding AG decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 71.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,201 shares of the company’s stock after selling 68,311 shares during the period. J. Safra Sarasin Holding AG’s holdings in PDD were worth $2,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after acquiring an additional 97 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the period. New York Life Investment Management LLC increased 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 valued at $245,000 after purchasing an additional 139 shares during the last quarter. Cibc World Markets Corp raised its holdings in PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after buying an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

PDD opened at $94.36 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $114.07 and its 200-day simple moving average is $112.09. The company has a market capitalization of $129.83 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69.

Wall Street Analyst Weigh In

PDD has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of PDD in a report on Friday, March 21st. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Nomura restated a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PDD has an average rating of “Moderate Buy” and an average target price of $169.91.

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.