Farther Finance Advisors LLC Has $54,000 Stake in PDD Holdings Inc. (NASDAQ:PDD)

Farther Finance Advisors LLC boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 30.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 559 shares of the company’s stock after buying an additional 132 shares during the quarter. Farther Finance Advisors LLC’s holdings in PDD were worth $54,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in PDD during the 4th quarter worth about $39,000. Avior Wealth Management LLC lifted its holdings in PDD by 50.9% during the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after buying an additional 169 shares during the period. Brooklyn Investment Group lifted 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. Global Retirement Partners LLC lifted its holdings in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings 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. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on PDD shares. Nomura reaffirmed a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday. Finally, Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.91.

PDD Stock Performance

Shares of PDD stock opened at $126.64 on Monday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The firm has a market capitalization of $174.24 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69. The business has a 50-day simple moving average of $115.75 and a 200 day simple moving average of $113.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.