Y Intercept Hong Kong Ltd Makes New $4.69 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Y Intercept Hong Kong Ltd purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,305 shares of the company's stock, valued at approximately $4,685,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new position in shares of PDD in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new position in PDD during the third quarter worth $29,000. Nisa Investment Advisors LLC bought a new position in PDD during the fourth quarter worth $39,000. Brooklyn Investment Group boosted its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after purchasing an additional 405 shares during the period. Finally, Global Retirement Partners LLC increased its stake in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PDD has been the subject of several research reports. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Benchmark lowered their target price on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut their price target on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, PDD has an average rating of "Moderate Buy" and a consensus price target of $173.40.

PDD Stock Performance

PDD stock traded down $11.57 during trading on Monday, reaching $119.77. 19,545,349 shares of the company's stock were exchanged, compared to its average volume of 9,018,446. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The firm has a market cap of $164.79 billion, a PE ratio of 11.70, a P/E/G ratio of 0.32 and a beta of 0.66. The company's fifty day moving average price is $107.12 and its 200-day moving average price is $113.94. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.