PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its stake in PDD Holdings Inc. (NASDAQ:PDD) by 157.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 39,124 shares of the company’s stock after buying an additional 23,929 shares during the quarter. Tower Research Capital LLC TRC’s holdings in PDD were worth $3,795,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PDD. Lord Abbett & CO. LLC lifted its holdings in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after purchasing an additional 14,905 shares during the last quarter. Headwater Capital Co Ltd acquired a new stake in PDD in the fourth quarter worth $9,699,000. Renaissance Technologies LLC lifted its stake in PDD by 56.3% in the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company’s stock valued at $91,898,000 after buying an additional 341,300 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of PDD during the fourth quarter worth about $4,685,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD opened at $93.69 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s 50 day moving average is $114.56 and its 200-day moving average is $112.51. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The stock has a market capitalization of $128.91 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.32 and a beta of 0.73.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Jefferies Financial Group cut their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average target price of $169.91.

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.