Corient Private Wealth LLC Boosts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Corient Private Wealth LLC grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,304 shares of the company’s stock after buying an additional 1,241 shares during the period. Corient Private Wealth LLC’s holdings in PDD were worth $805,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the 4th quarter valued at approximately $39,000. Brooklyn Investment Group raised its position in PDD by 340.3% in the fourth 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. Global Retirement Partners LLC lifted its holdings in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after acquiring an additional 498 shares during the period. Farther Finance Advisors LLC lifted its holdings in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PDD shares. Jefferies Financial Group decreased their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Nomura restated a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. upped their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Five 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 company. According to data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Price Performance

NASDAQ:PDD opened at $124.36 on Friday. The firm has a market cap of $171.10 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth 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 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’s 50-day moving average is $117.86 and its two-hundred day moving average is $113.99.

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.