PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Stifel Financial Corp

Stifel Financial Corp lifted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 172.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,400 shares of the company’s stock after acquiring an additional 4,054 shares during the quarter. Stifel Financial Corp’s holdings in PDD were worth $863,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PDD. Prospera Private Wealth LLC bought a new position in shares of PDD in the 3rd quarter worth about $27,000. Venturi Wealth Management LLC acquired a new stake in PDD during the third quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new position in PDD in the second quarter worth about $32,000. Richardson Financial Services Inc. boosted its stake in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD during the third quarter valued at approximately $34,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PDD shares. Bank of America cut their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Sanford C. Bernstein reduced their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and lowered their target price for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Benchmark reduced their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Jefferies Financial Group reduced their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Price Performance

Shares of PDD stock opened at $99.72 on Wednesday. The firm has a market cap of $137.20 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm’s 50-day simple moving average is $111.81 and its 200-day simple moving average is $122.92.

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.