Leuthold Group LLC acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,404 shares of the company’s stock, valued at approximately $320,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in PDD during the first quarter valued at about $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD during the second quarter valued at approximately $32,000. Richardson Financial Services Inc. grew its stake in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of PDD in the second quarter worth $40,000. Finally, Mather Group LLC. lifted its holdings in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.
PDD Price Performance
PDD opened at $99.98 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a 50-day moving average of $120.82 and a 200-day moving average of $128.55. The company has a market capitalization of $137.56 billion, a P/E ratio of 13.24, a PEG ratio of 0.24 and a beta of 0.69.
Wall Street Analyst Weigh In
PDD has been the subject of several recent research reports. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark dropped their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Finally, Bank of America decreased their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $177.78.
View Our Latest Research Report on PDD
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.
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