Central Asset Investments & Management Holdings HK Ltd Makes New $339,000 Investment in PDD Holdings Inc. (NASDAQ:PDD)

Central Asset Investments & Management Holdings HK Ltd acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,500 shares of the company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prime Capital Investment Advisors LLC boosted its position in PDD by 5.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after purchasing an additional 89 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of 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 during the last quarter. Avior Wealth Management LLC grew its stake in shares of PDD by 50.9% in the third 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 acquired a new position in PDD during the third quarter worth $27,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

Shares of NASDAQ PDD opened at $119.77 on Thursday. The firm has a market cap of $164.79 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66. The business’s 50 day moving average is $108.23 and its 200-day moving average is $113.72. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

Analyst Ratings Changes

PDD has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of 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. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and cut their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.40.

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.