Los Angeles Capital Management LLC Has $6.09 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Los Angeles Capital Management LLC raised its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 789.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,827 shares of the company’s stock after acquiring an additional 55,761 shares during the period. Los Angeles Capital Management LLC’s holdings in PDD were worth $6,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PDD. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the third quarter worth $27,000. Venturi Wealth Management LLC bought a new position in PDD during the 3rd quarter worth about $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the 4th quarter valued at about $39,000. Avior Wealth Management LLC lifted its holdings in shares of PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

PDD Stock Performance

Shares of PDD stock opened at $119.77 on Thursday. The company has a fifty day moving average price of $108.23 and a two-hundred day moving average price of $113.72. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The stock has a market cap of $164.79 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.32 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.