PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Brilliance Asset Management Ltd.

Brilliance Asset Management Ltd. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 316.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 646,212 shares of the company’s stock after purchasing an additional 490,860 shares during the period. PDD makes up approximately 14.1% of Brilliance Asset Management Ltd.’s portfolio, making the stock its 4th biggest holding. Brilliance Asset Management Ltd.’s holdings in PDD were worth $62,676,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new stake in PDD during the fourth quarter valued at $39,000. Brooklyn Investment Group grew its position in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares during the period. Global Retirement Partners LLC increased its stake in shares of PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group lowered their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Finally, Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Performance

NASDAQ PDD opened at $122.47 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $168.50 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.32 and a beta of 0.69. The stock has a 50-day moving average of $117.38 and a two-hundred day moving average of $113.92. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

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.