FengHe Fund Management Pte. Ltd. Invests $2.07 Million in PDD Holdings Inc. (NASDAQ:PDD)

FengHe Fund Management Pte. Ltd. purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 21,300 shares of the company’s stock, valued at approximately $2,066,000. PDD comprises approximately 0.6% of FengHe Fund Management Pte. Ltd.’s holdings, making the stock its 15th largest position.

Several other institutional investors have also modified their holdings of the company. Prime Capital Investment Advisors LLC lifted its stake in PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after buying an additional 89 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after buying an additional 166 shares in the last quarter. CWM LLC lifted its stake in PDD by 19.3% in the 3rd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $141,000 after buying an additional 169 shares in the last quarter. Avior Wealth Management LLC lifted its stake in 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 buying an additional 169 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in PDD in the 3rd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and cut their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Three investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Trading Up 2.2 %

PDD stock opened at $124.16 on Monday. The company has a market cap of $170.83 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.29 and a beta of 0.67. 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 simple moving average of $104.97 and a 200-day simple moving average of $114.15. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

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.