Cetera Investment Advisers Buys 1,280 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Cetera Investment Advisers lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 13.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,154 shares of the company’s stock after acquiring an additional 1,280 shares during the period. Cetera Investment Advisers’ holdings in PDD were worth $1,082,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC increased its position in PDD by 56.3% in the 4th quarter. Renaissance Technologies LLC now owns 947,500 shares of the company’s stock worth $91,898,000 after buying an additional 341,300 shares during the period. Baillie Gifford & Co. increased its position in shares of PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of PDD during the fourth quarter valued at approximately $4,685,000. Alberta Investment Management Corp increased its position in shares of PDD by 12.6% during the fourth quarter. Alberta Investment Management Corp now owns 190,060 shares of the company’s stock valued at $18,434,000 after purchasing an additional 21,302 shares during the period. Finally, Synergy Asset Management LLC increased its position in shares of PDD by 138.8% during the fourth quarter. Synergy Asset Management LLC now owns 205,740 shares of the company’s stock valued at $19,955,000 after purchasing an additional 119,580 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

PDD stock opened at $119.80 on Friday. 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 cap of $166.78 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.32 and a beta of 0.57. The business’s fifty day moving average is $109.51 and its two-hundred day moving average is $109.36. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $164.69.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price objective on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Citigroup upgraded PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Finally, Nomura reaffirmed a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.20.

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.