Carnegie Mellon University Makes New $3.43 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Carnegie Mellon University purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 35,322 shares of the company's stock, valued at approximately $3,426,000. PDD comprises approximately 2.5% of Carnegie Mellon University's portfolio, making the stock its 3rd biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC boosted its stake in shares of PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company's stock worth $244,000 after acquiring an additional 89 shares in the last quarter. Jones Financial Companies Lllp raised 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 worth $118,000 after buying an additional 97 shares in the last quarter. New York Life Investment Management LLC lifted 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 worth $245,000 after buying an additional 139 shares during the period. OneDigital Investment Advisors LLC boosted its stake in PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company's stock valued at $354,000 after buying an additional 166 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

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Wall Street Analysts Forecast Growth

PDD has been the subject of a number of analyst reports. Dbs Bank cut PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. Benchmark lowered their price objective on shares of PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Jefferies Financial Group decreased their price objective on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research report on Thursday, November 21st. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $173.40.

PDD Stock Performance

NASDAQ PDD traded down $0.03 during trading on Wednesday, reaching $117.95. 3,714,866 shares of the company's stock were exchanged, compared to its average volume of 8,589,641. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock has a market capitalization of $162.28 billion, a P/E ratio of 11.52, a PEG ratio of 0.32 and a beta of 0.69. The business has a 50 day moving average price of $111.50 and a 200-day moving average price of $111.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.