Integrated Quantitative Investments LLC Makes New $1.46 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Integrated Quantitative Investments LLC acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,080 shares of the company's stock, valued at approximately $1,463,000. PDD makes up about 0.7% of Integrated Quantitative Investments LLC's investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of PDD. Nisa Investment Advisors LLC bought a new position in PDD during the fourth quarter worth about $39,000. Brooklyn Investment Group lifted its position in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC boosted its stake in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares in the last quarter. Farther Finance Advisors LLC grew its position in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake 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 in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 4.3 %

PDD stock traded down $4.04 during midday trading on Wednesday, reaching $89.94. The stock had a trading volume of 17,833,885 shares, compared to its average volume of 9,770,591. The firm has a market cap of $123.75 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $118.20 and a two-hundred day simple moving average of $114.92.

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Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Nomura reiterated a "neutral" rating and issued a $130.00 target price (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 target on shares of PDD in a research report on Friday, March 21st. Finally, Jefferies Financial Group cut their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.