Range Financial Group LLC Acquires Shares of 2,309 PDD Holdings Inc. (NASDAQ:PDD)

Range Financial Group LLC bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 2,309 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PDD. Prospera Private Wealth LLC purchased a new position in PDD in the third quarter valued at about $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD in the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. grew its holdings in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after purchasing an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in PDD in the third quarter worth $34,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

PDD Trading Up 1.6 %

PDD stock opened at $100.62 on Wednesday. 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 Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock has a market cap of $138.44 billion, a P/E ratio of 9.83, a PEG ratio of 0.29 and a beta of 0.66. The firm’s fifty day moving average price is $105.87 and its 200-day moving average price is $119.14.

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.