2,610 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by Lester Murray Antman dba SimplyRich

Lester Murray Antman dba SimplyRich purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,610 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Prospera Private Wealth LLC purchased a new position in shares of PDD during the third quarter valued at about $27,000. Venturi Wealth Management LLC bought a new stake in PDD during the 3rd quarter valued at approximately $29,000. Nisa Investment Advisors LLC purchased a new position in shares of PDD during the 4th quarter worth approximately $39,000. Brooklyn Investment Group raised its position in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 405 shares in the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of PDD in the 3rd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Up 1.0 %

Shares of NASDAQ PDD opened at $117.48 on Wednesday. The firm’s 50 day moving average price is $103.25 and its 200-day moving average price is $114.24. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $161.64 billion, a PE ratio of 11.47, a P/E/G ratio of 0.29 and a beta of 0.67.

Analyst Ratings Changes

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

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.