PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in PDD Holdings Inc. (NASDAQ:PDD) by 25.5% in the 4th quarter, HoldingsChannel reports. The firm owned 9,060 shares of the company’s stock after purchasing an additional 1,840 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PDD were worth $879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the fourth quarter worth about $39,000. Brooklyn Investment Group boosted its position in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 405 shares during the last quarter. Global Retirement Partners LLC grew its stake in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after acquiring an additional 498 shares during the period. Farther Finance Advisors LLC raised its holdings in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ:PDD opened at $122.47 on Thursday. The firm’s fifty day simple moving average is $117.38 and its 200 day simple moving average is $113.92. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market capitalization of $168.50 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.32 and a beta of 0.69.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PDD. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Nomura restated 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. JPMorgan Chase & Co. increased their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.