NEOS Investment Management LLC Acquires 7,892 Shares of PDD Holdings Inc. (NASDAQ:PDD)

NEOS Investment Management LLC increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 20.3% during the fourth quarter, HoldingsChannel reports. The fund owned 46,758 shares of the company’s stock after acquiring an additional 7,892 shares during the quarter. NEOS Investment Management LLC’s holdings in PDD were worth $4,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after purchasing an additional 97 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after buying an additional 132 shares during the period. New York Life Investment Management LLC grew its position in PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after buying an additional 139 shares in the last quarter. Cibc World Markets Corp increased its stake in PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after acquiring an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in 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 in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 1.5 %

Shares of PDD opened at $124.36 on Friday. The company has a market capitalization of $171.10 billion, a P/E ratio of 12.14, a PEG ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The business’s 50 day simple moving average is $117.86 and its 200-day simple moving average is $113.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analyst Ratings Changes

PDD has been the topic of several recent research reports. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Nomura restated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Citigroup reissued a “neutral” rating 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average price target 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.