Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,060 shares of the company’s stock after purchasing an additional 1,840 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PDD were worth $879,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in shares of PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after purchasing an additional 97 shares during the last quarter. Farther Finance Advisors LLC grew its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after buying an additional 132 shares during the last quarter. New York Life Investment Management LLC increased its stake in PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after buying an additional 139 shares during the period. Cibc World Markets Corp raised its position in PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after buying an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after acquiring an additional 249 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $122.47 on Thursday. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a market cap of $168.50 billion, a P/E ratio of 11.96, a PEG ratio of 0.32 and a beta of 0.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $117.38 and a two-hundred day moving average of $113.92.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Jefferies Financial Group cut their target price on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Nomura restated a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $169.91.

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.