Newbridge Financial Services Group Inc. Makes New $126,000 Investment in PDD Holdings Inc. (NASDAQ:PDD)

Newbridge Financial Services Group Inc. acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,300 shares of the company’s stock, valued at approximately $126,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in PDD in the third quarter valued at about $27,000. Venturi Wealth Management LLC acquired a new stake in PDD during the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC bought a new stake in shares of PDD in the 4th quarter valued at approximately $39,000. Carolina Wealth Advisors LLC acquired a new position in shares of PDD in the 3rd quarter worth approximately $66,000. Finally, Avior Wealth Management LLC lifted its position in shares of PDD by 50.9% during 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 period. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of analyst reports. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Three research 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. According to MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Price Performance

PDD opened at $114.27 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 company’s 50 day simple moving average is $102.90 and its 200-day simple moving average is $114.46. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The stock has a market capitalization of $157.22 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

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.