PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 347.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,173 shares of the company’s stock after buying an additional 1,687 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in PDD were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the third quarter valued at approximately $27,000. Venturi Wealth Management LLC acquired a new stake in PDD during the third quarter worth approximately $29,000. Richardson Financial Services Inc. boosted its position in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in PDD during the third quarter worth approximately $34,000. Finally, Peoples Bank KS acquired a new stake in PDD during the third quarter worth approximately $67,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group cut their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their target price for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Finally, Benchmark cut their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Up 2.6 %

NASDAQ PDD opened at $100.70 on Thursday. The firm has a market capitalization of $138.55 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.66. The company has a 50-day simple moving average of $103.53 and a 200-day simple moving average of $117.76. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.