PDD Holdings Inc. (NASDAQ:PDD) Stake Lifted by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,215 shares of the company’s stock after buying an additional 97 shares during the quarter. Jones Financial Companies Lllp’s holdings in PDD were worth $118,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PDD. Venturi Wealth Management LLC bought a new position in PDD during the 3rd quarter worth $29,000. Apollon Wealth Management LLC grew its stake in PDD by 12.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,614 shares of the company’s stock worth $352,000 after buying an additional 281 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in PDD by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after buying an additional 89 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in PDD by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after buying an additional 166 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in PDD by 4.5% during the 3rd quarter. CIBC Asset Management Inc now owns 125,519 shares of the company’s stock worth $16,921,000 after buying an additional 5,378 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PDD. Benchmark decreased their price target on 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 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. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Up 3.2 %

Shares of PDD stock opened at $122.54 on Friday. The stock has a 50-day simple moving average of $112.87 and a 200 day simple moving average of $112.07. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock has a market capitalization of $168.60 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.32 and a beta of 0.69. 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 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.