Atomi Financial Group Inc. Acquires 387 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Atomi Financial Group Inc. lifted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,778 shares of the company’s stock after acquiring an additional 387 shares during the quarter. Atomi Financial Group Inc.’s holdings in PDD were worth $657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PDD. Envestnet Asset Management Inc. lifted its holdings in PDD by 263.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 102,006 shares of the company’s stock worth $13,562,000 after purchasing an additional 73,908 shares during the last quarter. Beck Bode LLC acquired a new stake in PDD during the 2nd quarter worth approximately $16,113,000. Thrivent Financial for Lutherans lifted its holdings in PDD by 6.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 82,121 shares of the company’s stock worth $10,918,000 after purchasing an additional 5,136 shares during the last quarter. Bank of Montreal Can acquired a new stake in PDD during the 2nd quarter worth approximately $59,620,000. Finally, Fred Alger Management LLC lifted its holdings in PDD by 36.9% during the 2nd quarter. Fred Alger Management LLC now owns 6,047 shares of the company’s stock worth $804,000 after purchasing an additional 1,630 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PDD shares. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group dropped their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Up 0.9 %

Shares of PDD stock opened at $104.01 on Friday. The firm has a market capitalization of $143.10 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.27 and a beta of 0.66. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $101.74 and its 200 day simple moving average is $116.53.

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.