Northwest & Ethical Investments L.P. Buys 1,996 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Northwest & Ethical Investments L.P. lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,881 shares of the company's stock after buying an additional 1,996 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in PDD were worth $1,734,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in PDD during the 3rd quarter valued at approximately $27,000. Nisa Investment Advisors LLC bought a new position in shares of PDD during the fourth quarter worth $39,000. Avior Wealth Management LLC increased its holdings in PDD by 50.9% in the 3rd 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 last quarter. Brooklyn Investment Group lifted its stake in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Trading Down 2.2 %

PDD stock traded down $2.87 during midday trading on Tuesday, reaching $125.25. The stock had a trading volume of 7,815,603 shares, compared to its average volume of 10,393,628. 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 firm has a market cap of $172.33 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a fifty day moving average of $116.94 and a 200 day moving average of $113.86.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Nomura reaffirmed a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday. 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $169.91.

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.