Global Retirement Partners LLC Increases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Global Retirement Partners LLC boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 939.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 551 shares of the company’s stock after purchasing an additional 498 shares during the quarter. Global Retirement Partners LLC’s holdings in PDD were worth $53,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Prospera Private Wealth LLC purchased a new stake in shares of PDD in the third quarter valued at about $27,000. Venturi Wealth Management LLC acquired a new position in PDD in the 3rd quarter valued at about $29,000. Nisa Investment Advisors LLC purchased a new stake in PDD during the 4th quarter valued at approximately $39,000. Brooklyn Investment Group lifted its position 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 acquiring an additional 405 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $113.69 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a 50-day simple moving average of $108.86 and a 200-day simple moving average of $113.35. The company has a market capitalization of $156.42 billion, a PE ratio of 11.10, a P/E/G ratio of 0.32 and a beta of 0.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group cut their price target on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Benchmark reduced their target price 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. Finally, Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.40.

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.