Quadrant Capital Group LLC Acquires 518 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Quadrant Capital Group LLC increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,794 shares of the company’s stock after purchasing an additional 518 shares during the period. Quadrant Capital Group LLC’s holdings in PDD were worth $756,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new position in shares of PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group grew its stake in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the last quarter. Global Retirement Partners LLC raised its holdings in PDD by 939.6% in 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 in the last quarter. Farther Finance Advisors LLC lifted its position in shares of PDD by 30.9% during the fourth 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. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after buying an additional 249 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

PDD Trading Down 8.3 %

Shares of NASDAQ:PDD opened at $104.21 on Monday. 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 business has a 50 day moving average of $119.14 and a two-hundred day moving average of $115.11. The company has a market capitalization of $143.38 billion, a PE ratio of 10.18, a PEG ratio of 0.32 and a beta of 0.73.

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.