Blue Trust Inc. Grows Stake in PDD Holdings Inc. (NASDAQ:PDD)

Blue Trust Inc. grew its position in PDD Holdings Inc. (NASDAQ:PDD) by 33.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,132 shares of the company’s stock after buying an additional 1,547 shares during the quarter. Blue Trust Inc.’s holdings in PDD were worth $595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC lifted its stake in PDD by 5.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after acquiring an additional 89 shares during the period. OneDigital Investment Advisors LLC lifted its position in shares of PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after purchasing an additional 166 shares during the period. CWM LLC boosted its stake in shares of PDD by 19.3% during the third quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $141,000 after purchasing an additional 169 shares in the last quarter. Avior Wealth Management LLC increased its holdings in PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after buying an additional 169 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in PDD in the third quarter worth approximately $27,000. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $115.40 on Friday. The firm has a market capitalization of $158.78 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company’s fifty day moving average price is $101.19 and its 200-day moving average price is $115.54. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

Analyst Upgrades and Downgrades

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

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.