Tower Research Capital LLC TRC Has $3.80 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Tower Research Capital LLC TRC raised its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 157.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 39,124 shares of the company's stock after acquiring an additional 23,929 shares during the period. Tower Research Capital LLC TRC's holdings in PDD were worth $3,795,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in shares of PDD by 172.8% during the 3rd quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock valued at $863,000 after buying an additional 4,054 shares during the last quarter. Tidal Investments LLC lifted its holdings in PDD by 1,019.4% in the third quarter. Tidal Investments LLC now owns 71,173 shares of the company's stock worth $9,595,000 after acquiring an additional 64,815 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in PDD during the 3rd quarter valued at approximately $653,000. Lord Abbett & CO. LLC grew its position in shares of PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock worth $5,155,000 after acquiring an additional 14,905 shares during the last quarter. Finally, Range Financial Group LLC acquired a new stake in shares of PDD in the fourth quarter valued at approximately $224,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

NASDAQ PDD traded up $0.74 during midday trading on Friday, hitting $104.01. The company had a trading volume of 5,051,310 shares, compared to its average volume of 10,469,411. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69. The firm has a 50-day moving average price of $112.72 and a 200-day moving average price of $111.57. 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 company has a market capitalization of $143.10 billion, a PE ratio of 10.16, a P/E/G ratio of 0.32 and a beta of 0.73.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PDD. Nomura reiterated a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. raised their price objective on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group dropped their price target on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus price target 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.