NEOS Investment Management LLC Increases Stake in PDD Holdings Inc. (NASDAQ:PDD)

NEOS Investment Management LLC raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 20.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,758 shares of the company's stock after acquiring an additional 7,892 shares during the quarter. NEOS Investment Management LLC's holdings in PDD were worth $4,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PDD. Jones Financial Companies Lllp lifted its holdings in PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after purchasing an additional 97 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares in the last quarter. New York Life Investment Management LLC boosted its position in PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock worth $245,000 after acquiring an additional 139 shares during the last quarter. Cibc World Markets Corp grew its stake in PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after acquiring an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PDD. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Nomura reissued a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. raised their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Trading Down 1.5 %

NASDAQ PDD traded down $1.75 on Monday, reaching $118.70. The stock had a trading volume of 4,207,440 shares, compared to its average volume of 8,958,803. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a fifty day moving average price of $118.16 and a two-hundred day moving average price of $114.47. The firm has a market capitalization of $163.31 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

About PDD

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.