Brooklyn Investment Group Purchases 405 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Brooklyn Investment Group grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 340.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 524 shares of the company’s stock after buying an additional 405 shares during the quarter. Brooklyn Investment Group’s holdings in PDD were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PDD. Envestnet Asset Management Inc. increased its holdings in shares of PDD by 263.0% during the second quarter. Envestnet Asset Management Inc. now owns 102,006 shares of the company’s stock worth $13,562,000 after purchasing an additional 73,908 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in PDD by 56.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,219 shares of the company’s stock worth $1,757,000 after acquiring an additional 4,750 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in PDD by 3.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,180 shares of the company’s stock valued at $1,613,000 after acquiring an additional 352 shares in the last quarter. Beck Bode LLC bought a new stake in shares of PDD during the 2nd quarter valued at $16,113,000. Finally, XTX Topco Ltd grew its holdings in shares of PDD by 42.1% during the 2nd quarter. XTX Topco Ltd now owns 8,089 shares of the company’s stock worth $1,075,000 after purchasing an additional 2,395 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PDD. Benchmark dropped their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $126.00 to $224.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price objective 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. Finally, Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Price Performance

Shares of PDD opened at $105.57 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $145.25 billion, a PE ratio of 10.31, a PEG ratio of 0.25 and a beta of 0.66. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The business has a 50-day simple moving average of $102.37 and a two-hundred day simple moving average of $117.22.

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.