FengHe Fund Management Pte. Ltd. purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,300 shares of the company's stock, valued at approximately $2,066,000. PDD accounts for about 0.6% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 15th largest position.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the third quarter valued at about $27,000. Venturi Wealth Management LLC acquired a new stake in shares of PDD in the third quarter valued at about $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the fourth quarter valued at about $39,000. Carolina Wealth Advisors LLC acquired a new stake in shares of PDD in the third quarter valued at about $66,000. Finally, Avior Wealth Management LLC boosted its position in shares of PDD by 50.9% during 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 in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.
PDD Stock Down 0.0 %
Shares of PDD stock traded down $0.02 during trading hours on Thursday, reaching $124.41. The company had a trading volume of 10,704,803 shares, compared to its average volume of 8,462,354. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. 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 business has a fifty day simple moving average of $106.14 and a 200-day simple moving average of $114.10. The company has a market cap of $171.17 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67.
Analyst Ratings Changes
PDD has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered PDD from an "overweight" rating to a "neutral" rating and cut their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Benchmark cut their target price on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Finally, Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Three 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $173.40.
Get Our Latest Analysis on PDD
About PDD
(
Free Report)
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.
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