PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 43.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 825 shares of the company’s stock after buying an additional 249 shares during the period. EverSource Wealth Advisors LLC’s holdings in PDD were worth $80,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Gordian Capital Singapore Pte Ltd raised its position in shares of PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after buying an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after buying an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in shares of PDD in the third quarter valued at approximately $74,221,000. Headwater Capital Co Ltd acquired a new position in shares of PDD in the fourth quarter valued at approximately $9,699,000. Finally, Baillie Gifford & Co. increased its position in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PDD. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark dropped their price target on shares of 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 dropped their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Price Performance

PDD opened at $126.79 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a 50 day moving average of $113.99 and a two-hundred day moving average of $112.70. The company has a market cap of $174.45 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.32 and a beta of 0.69.

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.