PDD Holdings Inc. (NASDAQ:PDD) Holdings Raised by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 8.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,215 shares of the company’s stock after acquiring an additional 97 shares during the quarter. Jones Financial Companies Lllp’s holdings in PDD were worth $118,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Prospera Private Wealth LLC purchased a new stake in PDD in the 3rd quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in PDD in the 3rd quarter worth about $29,000. Nisa Investment Advisors LLC purchased a new stake in PDD in the 4th quarter worth about $39,000. Avior Wealth Management LLC lifted its stake in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after acquiring an additional 169 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 405 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded 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. Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, 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. Three 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Performance

Shares of NASDAQ PDD opened at $122.54 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 firm has a market cap of $168.60 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 0.32 and a beta of 0.69. The business’s 50-day simple moving average is $112.87 and its 200-day simple moving average is $112.07. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

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.