Brooklyn Investment Group Buys 405 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Brooklyn Investment Group boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 340.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 524 shares of the company’s stock after purchasing an additional 405 shares during the quarter. Brooklyn Investment Group’s holdings in PDD were worth $51,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares in the last quarter. H&H International Investment LLC lifted its holdings in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after acquiring an additional 3,804,600 shares in the last quarter. Tairen Capital Ltd lifted its holdings in PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after acquiring an additional 1,788,076 shares in the last quarter. FMR LLC grew its stake in PDD by 8.6% in the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after acquiring an additional 1,654,764 shares during the period. Finally, Dragoneer Investment Group LLC increased its holdings in shares of PDD by 142.6% in the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock worth $348,440,000 after acquiring an additional 1,540,346 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

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

PDD Stock Performance

PDD opened at $105.57 on Monday. The business’s 50-day simple moving average is $102.37 and its 200 day simple moving average is $117.22. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market capitalization of $145.25 billion, a PE ratio of 10.31, a PEG ratio of 0.25 and a beta of 0.66.

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.