Leading Securities Co Ltd Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Leading Securities Co Ltd bought a new position in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 139,370 shares of the company’s stock, valued at approximately $13,517,000. PDD makes up about 43.9% of Leading Securities Co Ltd’s investment portfolio, making the stock its 2nd largest holding.

Other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after buying an additional 97 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the period. New York Life Investment Management LLC boosted its position in shares of PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after purchasing an additional 139 shares in the last quarter. Cibc World Markets Corp grew its stake in PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after purchasing an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Down 2.2 %

PDD stock opened at $122.47 on Thursday. The firm has a market capitalization of $168.50 billion, a PE ratio of 11.96, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The stock’s 50 day moving average is $117.38 and its 200-day moving average is $113.92.

Analyst Upgrades and Downgrades

PDD has been the subject of several recent analyst reports. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.91.

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.