Cerity Partners LLC Purchases 694 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Cerity Partners LLC grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,576 shares of the company’s stock after buying an additional 694 shares during the quarter. Cerity Partners LLC’s holdings in PDD were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in shares of PDD in the fourth quarter worth approximately $39,000. Brooklyn Investment Group grew its position in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC raised its stake in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of PDD by 30.9% during 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 period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of PDD by 43.2% in the fourth 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. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

PDD Price Performance

Shares of PDD stock opened at $93.69 on Friday. 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 $87.11 and a 12 month high of $164.69. The stock has a 50 day moving average of $115.04 and a 200 day moving average of $113.42. The firm has a market cap of $128.91 billion, a PE ratio of 9.15, a PEG ratio of 0.32 and a beta of 0.73.

PDD Company 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.