First Trust Advisors LP Has $107.23 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

First Trust Advisors LP reduced its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,105,523 shares of the company's stock after selling 26,762 shares during the quarter. First Trust Advisors LP owned 0.08% of PDD worth $107,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PDD. Nisa Investment Advisors LLC bought a new stake in PDD during the 4th quarter worth about $39,000. Brooklyn Investment Group lifted its stake in 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 last quarter. Global Retirement Partners LLC raised its stake in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Nomura reiterated a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Benchmark restated a "buy" rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $169.91.

PDD Trading Up 0.7 %

PDD traded up $0.74 during midday trading on Friday, hitting $104.01. 5,015,828 shares of the company were exchanged, compared to its average volume of 11,272,013. The firm has a market capitalization of $143.10 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.32 and a beta of 0.73. The firm's 50 day moving average price is $112.72 and its 200-day moving average price is $111.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $164.69.

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.