Raymond James Financial Inc. Buys Shares of 32,105 PDD Holdings Inc. (NASDAQ:PDD)

Raymond James Financial Inc. purchased a new position in PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 32,105 shares of the company’s stock, valued at approximately $3,114,000.

A number of other large investors also recently modified their holdings of PDD. Nisa Investment Advisors LLC bought a new position in PDD in the 4th quarter worth about $39,000. Brooklyn Investment Group grew its holdings in shares of PDD by 340.3% during the fourth 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 position in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Stephens Consulting LLC purchased a new stake in PDD in the fourth quarter valued at approximately $97,000. Finally, Jones Financial Companies Lllp lifted its position in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after purchasing an additional 97 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 3.1 %

PDD opened at $120.45 on Friday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. 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 business has a 50 day simple moving average of $118.16 and a two-hundred day simple moving average of $114.18. The firm has a market capitalization of $165.72 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69.

Analyst Ratings Changes

A number of brokerages have recently commented on PDD. Nomura reissued a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.