O Shaughnessy Asset Management LLC Purchases 518 Shares of PDD Holdings Inc. (NASDAQ:PDD)

O Shaughnessy Asset Management LLC increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 43,762 shares of the company’s stock after buying an additional 518 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in PDD were worth $4,244,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in shares of PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group boosted its holdings in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. 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 valued at $53,000 after buying an additional 498 shares during the last quarter. 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 period. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after acquiring an additional 249 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

PDD stock opened at $119.07 on Thursday. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. 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 stock has a market cap of $163.83 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.32 and a beta of 0.73. The company has a 50 day simple moving average of $119.09 and a 200 day simple moving average of $114.84.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent research reports. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Finally, Jefferies Financial Group dropped their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.