Quinn Opportunity Partners LLC Acquires Shares of 35,846 PDD Holdings Inc. (NASDAQ:PDD)

Quinn Opportunity Partners LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 35,846 shares of the company's stock, valued at approximately $3,477,000.

A number of other hedge funds have also bought and sold shares of PDD. HighTower Advisors LLC lifted its position in shares of PDD by 100.5% during the third quarter. HighTower Advisors LLC now owns 4,129 shares of the company's stock worth $559,000 after acquiring an additional 800,614 shares in the last quarter. Stifel Financial Corp lifted its stake in PDD by 172.8% during the third quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock worth $863,000 after purchasing an additional 4,054 shares during the last quarter. M&T Bank Corp purchased a new stake in PDD in the third quarter worth approximately $2,134,000. Geode Capital Management LLC boosted its stake in shares of PDD by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company's stock valued at $627,104,000 after purchasing an additional 513,248 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of PDD by 42.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,306 shares of the company's stock valued at $1,794,000 after purchasing an additional 3,943 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Up 4.7 %

Shares of PDD stock traded up $4.28 during trading hours on Monday, hitting $94.78. 20,220,743 shares of the company's stock traded hands, compared to its average volume of 11,233,769. 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 stock has a market cap of $130.41 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.32 and a beta of 0.73. The stock's fifty day simple moving average is $116.61 and its two-hundred day simple moving average is $114.28. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69.

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Wall Street Analyst Weigh In

Several research analysts have recently commented on PDD shares. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Citigroup reiterated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Nomura reissued a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five equities 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's stock. According to data from MarketBeat.com, the company presently 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.