Arizona PSPRS Trust Buys New Shares in PDD Holdings Inc. (NASDAQ:PDD)

Arizona PSPRS Trust acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,150 shares of the company's stock, valued at approximately $1,372,000. PDD comprises about 0.0% of Arizona PSPRS Trust's portfolio, making the stock its 13th largest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new position in shares of PDD in the fourth quarter worth $39,000. Brooklyn Investment Group increased its position in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares during the period. Global Retirement Partners LLC raised its stake in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after acquiring an additional 498 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of PDD by 30.9% during the fourth 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. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 249 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

PDD stock traded down $4.39 during mid-day trading on Thursday, reaching $89.76. 10,696,336 shares of the stock traded hands, compared to its average volume of 11,052,943. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The business's 50-day moving average is $117.42 and its 200-day moving average is $114.72. 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 stock has a market capitalization of $123.50 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

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Wall Street Analysts Forecast Growth

A number of research analysts have commented on PDD shares. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Nomura reaffirmed a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of PDD in a research 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.