GenTrust LLC Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

GenTrust LLC 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 and Exchange Commission. The fund bought 3,327 shares of the company’s stock, valued at approximately $323,000.

A number of other institutional investors have also recently added to or reduced their stakes in PDD. Allspring Global Investments Holdings LLC grew its stake in PDD by 11.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the company’s stock valued at $2,136,000 after acquiring an additional 1,623 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its stake in PDD by 3.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 512,564 shares of the company’s stock worth $69,099,000 after purchasing an additional 14,871 shares during the last quarter. Cigna Investments Inc. New boosted its position in shares of PDD by 17.0% during the 3rd quarter. Cigna Investments Inc. New now owns 13,399 shares of the company’s stock valued at $1,806,000 after acquiring an additional 1,945 shares during the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of PDD by 19.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 912,484 shares of the company’s stock valued at $123,012,000 after acquiring an additional 149,837 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in PDD by 89.9% in the 3rd quarter. Van ECK Associates Corp now owns 135,139 shares of the company’s stock valued at $18,218,000 after buying an additional 63,961 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PDD Price Performance

PDD stock opened at $119.77 on Thursday. The company has a market capitalization of $164.79 billion, a P/E ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.66. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The business has a 50 day simple moving average of $108.23 and a 200-day simple moving average of $113.72. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.