Victory Capital Management Inc. Sells 54,046 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Victory Capital Management Inc. reduced its stake in PDD Holdings Inc. (NASDAQ:PDD) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 336,391 shares of the company’s stock after selling 54,046 shares during the period. Victory Capital Management Inc.’s holdings in PDD were worth $32,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new stake in shares of PDD in the 3rd quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD in the 3rd quarter valued at approximately $29,000. Nisa Investment Advisors LLC bought a new stake in shares of PDD in the 4th quarter valued at approximately $39,000. Avior Wealth Management LLC grew its stake in shares of PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the period. Finally, Brooklyn Investment Group grew its stake in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PDD has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Benchmark decreased their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Stock Up 0.1 %

Shares of PDD opened at $119.92 on Monday. The firm has a market capitalization of $164.99 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.32 and a beta of 0.69. 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 business’s fifty day moving average price is $110.66 and its two-hundred day moving average price is $112.09. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

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.