Nisa Investment Advisors LLC Invests $39,000 in PDD Holdings Inc. (NASDAQ:PDD)

Nisa Investment Advisors LLC purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 400 shares of the company’s stock, valued at approximately $39,000.

Other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in PDD during the third quarter valued at approximately $27,000. Venturi Wealth Management LLC purchased a new position in PDD in the 3rd quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new position in PDD in the 3rd quarter worth about $34,000. Brooklyn Investment Group raised its holdings in 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. Finally, Carolina Wealth Advisors LLC purchased a new stake in PDD during the third quarter valued at about $66,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Price Performance

NASDAQ PDD opened at $111.91 on Friday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock’s 50-day moving average is $101.42 and its two-hundred day moving average is $115.54. The firm has a market cap of $153.97 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PDD shares. Benchmark decreased their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their target price for the company from $126.00 to $224.00 in a report on Monday, October 7th. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Company 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.