Blue Trust Inc. Raises Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Blue Trust Inc. raised its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 33.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,132 shares of the company’s stock after purchasing an additional 1,547 shares during the quarter. Blue Trust Inc.’s holdings in PDD were worth $595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of PDD in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC acquired a new position in shares of PDD in the third quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the 3rd quarter worth about $34,000. Nisa Investment Advisors LLC purchased a new position in shares of PDD in the 4th quarter valued at about $39,000. Finally, Brooklyn Investment Group raised its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

PDD Stock Up 3.0 %

Shares of NASDAQ:PDD opened at $115.40 on Friday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $101.19 and a two-hundred day moving average of $115.54. The stock has a market cap of $158.78 billion, a P/E ratio of 11.27, a PEG ratio of 0.27 and a beta of 0.66.

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.