Stanley Laman Group Ltd. Acquires New Position in PDD Holdings Inc. (NASDAQ:PDD)

Stanley Laman Group Ltd. acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,000 shares of the company’s stock, valued at approximately $194,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Prospera Private Wealth LLC bought a new stake in PDD during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD during the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC bought a new position in shares of PDD during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group boosted its stake in shares of 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 purchasing an additional 405 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new position in shares of PDD during the third quarter valued at approximately $66,000. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $121.54 on Friday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a fifty day moving average price of $104.03 and a 200-day moving average price of $114.18. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $167.22 billion, a PE ratio of 11.87, a P/E/G ratio of 0.29 and a beta of 0.67.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark dropped their target price 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. cut PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Company 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.