Stifel Financial Corp Has $863,000 Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Stifel Financial Corp raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 172.8% during the third quarter, HoldingsChannel.com reports. The firm owned 6,400 shares of the company’s stock after acquiring an additional 4,054 shares during the quarter. Stifel Financial Corp’s holdings in PDD were worth $863,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Prospera Private Wealth LLC acquired a new position in shares of PDD during the 3rd quarter worth about $27,000. Venturi Wealth Management LLC bought a new position in PDD during the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD during the second quarter valued at approximately $32,000. Richardson Financial Services Inc. increased its stake in PDD by 3,883.3% in 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 in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in PDD in the third quarter worth $34,000. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ:PDD opened at $99.72 on Wednesday. The firm’s fifty day moving average price is $111.81 and its two-hundred day moving average price is $122.92. 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 company has a market cap of $137.20 billion, a P/E ratio of 9.74, a P/E/G ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PDD. Barclays reduced their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Jefferies Financial Group decreased their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Three investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

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.