Stanley Laman Group Ltd. Buys New Stake in PDD Holdings Inc. (NASDAQ:PDD)

Stanley Laman Group Ltd. bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,000 shares of the company’s stock, valued at approximately $194,000.

Other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in PDD during the third quarter valued at $27,000. Venturi Wealth Management LLC purchased a new position in PDD during the third quarter valued at $29,000. Nisa Investment Advisors LLC purchased a new position in PDD during the fourth quarter valued at $39,000. Brooklyn Investment Group grew its stake in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares in the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new position in PDD during the third quarter valued at $66,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $121.54 on Friday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $104.03 and a 200 day moving average price of $114.18. The stock has a market cap of $167.22 billion, a PE ratio of 11.87, a P/E/G ratio of 0.29 and a beta of 0.67.

Analysts Set New Price Targets

A number of equities analysts have commented on PDD shares. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $105.00 in a research note 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 for the company in a research note on Thursday, November 21st. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark dropped their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.