PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 381.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,411 shares of the company's stock after buying an additional 24,092 shares during the period. Quantinno Capital Management LP's holdings in PDD were worth $4,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Prime Capital Investment Advisors LLC lifted its stake in PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company's stock valued at $244,000 after acquiring an additional 89 shares during the period. Ballentine Partners LLC boosted its holdings in PDD by 4.6% in the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company's stock valued at $359,000 after purchasing an additional 120 shares during the last quarter. Parallel Advisors LLC grew its position in PDD by 5.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company's stock worth $324,000 after purchasing an additional 122 shares during the period. Legacy Capital Group California Inc. raised its stake in shares of PDD by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company's stock valued at $277,000 after buying an additional 133 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in shares of PDD by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company's stock valued at $354,000 after buying an additional 166 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 10.5 %

PDD stock traded up $10.44 during mid-day trading on Monday, hitting $110.33. The company's stock had a trading volume of 22,951,134 shares, compared to its average volume of 10,718,017. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. 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 firm has a market capitalization of $151.80 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The stock's fifty day moving average is $121.25 and its two-hundred day moving average is $126.60.

Analysts Set New Price Targets

PDD has been the topic of several analyst reports. Citigroup lowered PDD from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Bank of America dropped their price objective on shares of PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Benchmark lowered their price target on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut their price objective on shares of PDD from $181.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and an average price target of $173.40.

PDD 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.