Todd Asset Management LLC Purchases 34,521 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Todd Asset Management LLC lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,510 shares of the company’s stock after acquiring an additional 34,521 shares during the quarter. Todd Asset Management LLC’s holdings in PDD were worth $20,999,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PDD. Prime Capital Investment Advisors LLC lifted its holdings in PDD by 5.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after buying an additional 89 shares during the period. OneDigital Investment Advisors LLC increased its position in PDD by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after buying an additional 166 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of PDD in the third quarter worth $27,000. Finally, Fortis Capital Management LLC lifted its position in PDD by 13.1% during the 3rd quarter. Fortis Capital Management LLC now owns 1,784 shares of the company’s stock worth $241,000 after acquiring an additional 206 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDD has been the topic of several research reports. Benchmark cut their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Performance

Shares of PDD stock opened at $119.77 on Tuesday. The stock’s 50-day moving average is $107.52 and its two-hundred day moving average is $113.81. The firm has a market cap of $164.79 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.66. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 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.