PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Raised by Financial Counselors Inc.

Financial Counselors Inc. grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,306 shares of the company’s stock after purchasing an additional 344 shares during the quarter. Financial Counselors Inc.’s holdings in PDD were worth $224,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PDD. Townsquare Capital LLC lifted its position in shares of PDD by 51.7% in the 3rd quarter. Townsquare Capital LLC now owns 3,810 shares of the company’s stock worth $514,000 after buying an additional 1,298 shares during the last quarter. Vinva Investment Management Ltd bought a new position in PDD in the third quarter worth about $243,000. Wasatch Advisors LP boosted its stake in PDD by 24.4% in the third quarter. Wasatch Advisors LP now owns 303,329 shares of the company’s stock valued at $40,892,000 after acquiring an additional 59,592 shares during the period. TOMS Capital Investment Management LP bought a new position in shares of PDD during the third quarter valued at approximately $1,928,000. Finally, HighVista Strategies LLC raised its position in shares of PDD by 213.3% during the 3rd quarter. HighVista Strategies LLC now owns 8,078 shares of the company’s stock worth $1,089,000 after purchasing an additional 5,500 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 3.1 %

PDD opened at $120.45 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $165.72 billion, a PE ratio of 11.76, a P/E/G ratio of 0.32 and a beta of 0.69. The stock’s fifty day moving average is $118.16 and its 200-day moving average is $114.33. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PDD. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upped their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group decreased their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and a consensus target price of $169.91.

PDD 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.