Main Management ETF Advisors LLC Invests $837,000 in PDD Holdings Inc. (NASDAQ:PDD)

Main Management ETF Advisors LLC acquired a new position in PDD Holdings Inc. (NASDAQ:PDD) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 6,208 shares of the company’s stock, valued at approximately $837,000.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new stake in PDD during the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in PDD during the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. increased its stake in PDD by 3,883.3% during the 2nd 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. Finally, Future Financial Wealth Managment LLC purchased a new stake in PDD during the 3rd quarter worth approximately $34,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 0.9 %

NASDAQ PDD opened at $99.89 on Friday. 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 fifty day moving average price is $121.25 and its 200 day moving average price is $126.74. The company has a market capitalization of $137.44 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.28 and a beta of 0.66. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PDD. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Benchmark dropped their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Bank of America dropped their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and an average target price of $173.40.

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.