Pitcairn Co. Acquires Shares of 3,482 PDD Holdings Inc. (NASDAQ:PDD)

Pitcairn Co. bought a new position in PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, Holdings Channel.com reports. The firm bought 3,482 shares of the company’s stock, valued at approximately $338,000.

A number of other large investors have also modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new position in PDD during the 4th quarter worth approximately $39,000. Brooklyn Investment Group lifted its position in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC grew its holdings in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $104.21 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. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The business’s fifty day moving average price is $119.14 and its 200 day moving average price is $115.11. The stock has a market capitalization of $143.38 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Nomura restated a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group reduced their target price on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PDD has an average rating of “Moderate Buy” and a consensus 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.