PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 1.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,799 shares of the company’s stock after buying an additional 164 shares during the period. Cibc World Markets Corp’s holdings in PDD were worth $1,435,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Prospera Private Wealth LLC purchased a new stake in shares of PDD during the third quarter valued at $27,000. Nisa Investment Advisors LLC purchased a new stake in PDD during the 4th quarter valued at about $39,000. Avior Wealth Management LLC increased its holdings 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 purchasing an additional 169 shares during the period. Brooklyn Investment Group raised its stake in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PDD. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a report on Friday. Jefferies Financial Group lowered their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Nomura restated a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Performance

Shares of PDD stock opened at $126.64 on Friday. The company has a market capitalization of $174.24 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The business’s 50 day moving average is $115.75 and its two-hundred day moving average is $113.13. 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 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.