PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 157.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,124 shares of the company’s stock after acquiring an additional 23,929 shares during the quarter. Tower Research Capital LLC TRC’s holdings in PDD were worth $3,795,000 at the end of the most recent quarter.

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

PDD Trading Up 1.5 %

NASDAQ PDD opened at $93.69 on Monday. The company has a market capitalization of $128.91 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $164.69. The company’s fifty day moving average price is $114.56 and its two-hundred day moving average price is $112.51.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PDD shares. JPMorgan Chase & Co. upped their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Jefferies Financial Group dropped their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Citigroup restated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Finally, Nomura reissued a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

About PDD

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.