Synergy Asset Management LLC Buys 119,580 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Synergy Asset Management LLC grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 138.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,740 shares of the company’s stock after acquiring an additional 119,580 shares during the period. PDD accounts for 1.5% of Synergy Asset Management LLC’s holdings, making the stock its 15th biggest holding. Synergy Asset Management LLC’s holdings in PDD were worth $19,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of PDD. Pacer Advisors Inc. increased its holdings in PDD by 1.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,287 shares of the company’s stock worth $3,229,000 after purchasing an additional 531 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of PDD in the 4th quarter worth $1,343,000. Blue Trust Inc. grew its position in shares of PDD by 33.7% during the 4th quarter. Blue Trust Inc. now owns 6,132 shares of the company’s stock worth $595,000 after buying an additional 1,547 shares in the last quarter. RV Capital AG increased its stake in shares of PDD by 8.2% during the fourth quarter. RV Capital AG now owns 345,489 shares of the company’s stock valued at $33,509,000 after buying an additional 26,100 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in shares of PDD in the fourth quarter valued at about $1,833,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Down 0.1 %

NASDAQ:PDD opened at $112.04 on Thursday. The company has a market capitalization of $154.15 billion, a P/E ratio of 10.94, a PEG ratio of 0.27 and a beta of 0.66. 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 12 month low of $88.01 and a 12 month high of $164.69. The firm has a fifty day simple moving average of $101.28 and a 200-day simple moving average of $115.57.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Benchmark cut 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. Macquarie raised shares of 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. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group reduced their price target on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.