Farther Finance Advisors LLC Buys 132 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Farther Finance Advisors LLC grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 30.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 559 shares of the company’s stock after purchasing an additional 132 shares during the period. Farther Finance Advisors LLC’s holdings in PDD were worth $54,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDD. Nisa Investment Advisors LLC bought a new stake in PDD during the 4th quarter worth approximately $39,000. Brooklyn Investment Group increased its holdings in PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC increased its holdings in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of 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 buying an additional 169 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Trading Down 3.3 %

Shares of PDD stock opened at $126.64 on Monday. 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 firm has a fifty day moving average price of $115.75 and a 200 day moving average price of $113.38. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a market cap of $174.24 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

Analyst Ratings Changes

Several equities analysts recently commented on PDD shares. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday. Jefferies Financial Group lowered their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday. Nomura reissued a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.