PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 24.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,568 shares of the company’s stock after acquiring an additional 911 shares during the period. Sequoia Financial Advisors LLC’s holdings in PDD were worth $443,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PDD. AGF Management Ltd. increased its stake in PDD by 14.7% in the fourth quarter. AGF Management Ltd. now owns 8,126 shares of the company’s stock valued at $788,000 after purchasing an additional 1,039 shares during the last quarter. Carnegie Mellon University purchased a new position in shares of PDD during the 4th quarter worth about $3,426,000. Johnson Investment Counsel Inc. boosted its position in shares of PDD by 4.0% in the fourth quarter. Johnson Investment Counsel Inc. now owns 6,825 shares of the company’s stock worth $662,000 after acquiring an additional 264 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in PDD by 1.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 56,907 shares of the company’s stock valued at $5,519,000 after purchasing an additional 1,045 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in PDD by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 380,638 shares of the company’s stock worth $36,918,000 after purchasing an additional 16,680 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Down 1.6 %

PDD opened at $126.79 on Wednesday. The firm has a market capitalization of $174.45 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.32 and a beta of 0.69. The firm’s 50 day moving average is $113.99 and its 200-day moving average is $112.70. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

Analysts Set New Price Targets

A number of brokerages have weighed in on PDD. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Benchmark reduced their price objective on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

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.