Sei Investments Co. Has $26.49 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Sei Investments Co. increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 16.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,168 shares of the company’s stock after acquiring an additional 37,689 shares during the quarter. Sei Investments Co.’s holdings in PDD were worth $26,494,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PDD. Nisa Investment Advisors LLC acquired a new position in shares of PDD during the fourth quarter valued at about $39,000. Brooklyn Investment Group raised its stake in PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC boosted 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 acquiring an additional 498 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after acquiring an additional 249 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PDD. Jefferies Financial Group lowered their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Nomura reissued a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Stock Performance

Shares of PDD opened at $125.25 on Wednesday. The stock has a 50 day moving average of $116.94 and a 200 day moving average of $113.86. 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 company has a market capitalization of $172.33 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.32 and a beta of 0.69.

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.