14,300 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by TOMS Capital Investment Management LP

TOMS Capital Investment Management LP purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 14,300 shares of the company's stock, valued at approximately $1,928,000. PDD makes up 0.1% of TOMS Capital Investment Management LP's investment portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in PDD in the 3rd quarter valued at approximately $27,000. Venturi Wealth Management LLC acquired a new stake in PDD in the 3rd quarter valued at $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD in the 2nd quarter valued at $32,000. Richardson Financial Services Inc. raised its position in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in PDD in the 3rd quarter valued at $34,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PDD shares. Citigroup downgraded PDD from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Sanford C. Bernstein dropped their price objective on PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a report on Tuesday, August 27th. Nomura Securities upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Barclays dropped their price objective on PDD from $224.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, August 27th. Finally, Daiwa America upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $173.40.

PDD Stock Performance

NASDAQ:PDD traded up $2.41 on Monday, hitting $98.97. The company's stock had a trading volume of 7,685,786 shares, compared to its average volume of 10,681,642. 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 stock has a fifty day moving average of $123.25 and a two-hundred day moving average of $128.24. The firm has a market capitalization of $136.17 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. PDD Holdings Inc. has a one year low of $88.01 and a one year 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.