Brilliance Asset Management Ltd. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 316.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 646,212 shares of the company's stock after acquiring an additional 490,860 shares during the period. PDD accounts for about 14.1% of Brilliance Asset Management Ltd.'s portfolio, making the stock its 4th largest position. Brilliance Asset Management Ltd.'s holdings in PDD were worth $62,676,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in shares of PDD during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group grew its position in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC increased its stake in 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 in the last quarter. Farther Finance Advisors LLC raised its holdings in PDD by 30.9% during 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 during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after buying an additional 249 shares in the last quarter. 39.83% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on PDD shares. Nomura restated a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Citigroup reissued a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Finally, Jefferies Financial Group decreased their price objective on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $169.91.
Read Our Latest Research Report on PDD
PDD Stock Performance
Shares of NASDAQ PDD traded down $3.91 during midday trading on Friday, hitting $120.45. The company's stock had a trading volume of 6,950,853 shares, compared to its average volume of 10,689,709. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The firm has a market capitalization of $165.72 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $118.16 and a 200 day moving average price of $114.33.
PDD Company Profile
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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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