SBI Securities Co. Ltd. Buys New Stake in PDD Holdings Inc. (NASDAQ:PDD)

SBI Securities Co. Ltd. purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,694 shares of the company's stock, valued at approximately $455,000.

Several other large investors have also recently bought and sold shares of the business. Prospera Private Wealth LLC purchased a new stake in PDD in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD during the third quarter worth $29,000. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the fourth quarter worth $39,000. Brooklyn Investment Group grew its stake in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after purchasing an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of PDD from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Jefferies Financial Group decreased their price target 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. Finally, Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $173.40.

PDD Stock Performance

PDD stock traded down $0.60 during trading hours on Thursday, hitting $119.61. The stock had a trading volume of 5,839,363 shares, compared to its average volume of 8,806,168. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a market cap of $164.57 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a 50-day moving average of $109.79 and a two-hundred day moving average of $112.72. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

PDD Company 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.