Focus Financial Network Inc. Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Focus Financial Network Inc. bought a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,143 shares of the company's stock, valued at approximately $208,000.

A number of other large investors have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in PDD during the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new position in PDD during the third quarter worth $29,000. Nisa Investment Advisors LLC acquired a new position in PDD during the fourth quarter worth $39,000. Brooklyn Investment Group raised its stake in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after acquiring an additional 405 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in PDD during the third quarter worth $66,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on PDD shares. Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Benchmark lowered their target price on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lowered their target price on PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Three research 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $173.40.

PDD Trading Up 3.2 %

PDD stock traded up $4.03 during mid-day trading on Tuesday, hitting $128.19. The stock had a trading volume of 6,019,915 shares, compared to its average volume of 8,115,661. The stock has a 50-day simple moving average of $105.24 and a two-hundred day simple moving average of $114.02. The stock has a market capitalization of $176.37 billion, a PE ratio of 12.51, a P/E/G ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

About PDD

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.