Arizona PSPRS Trust Takes $1.37 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Arizona PSPRS Trust purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, HoldingsChannel reports. The fund purchased 14,150 shares of the company’s stock, valued at approximately $1,372,000. PDD comprises 0.0% of Arizona PSPRS Trust’s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of PDD. Nisa Investment Advisors LLC acquired a new position in PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group raised its stake in PDD by 340.3% in 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. Global Retirement Partners LLC lifted its position 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 purchasing an additional 498 shares during the period. Farther Finance Advisors LLC grew its stake in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after buying an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake 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 buying an additional 249 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PDD shares. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Benchmark restated a “buy” rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Citigroup reissued a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura restated a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. 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 currently has an average rating of “Moderate Buy” and an average target price of $169.91.

PDD Stock Performance

PDD stock opened at $104.21 on Friday. The business has a 50 day moving average of $119.14 and a 200-day moving average of $114.88. 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 1 year low of $88.01 and a 1 year high of $164.69. The company has a market capitalization of $143.38 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.32 and a beta of 0.73.

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.