Pacer Advisors Inc. Boosts Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Pacer Advisors Inc. grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,272 shares of the company’s stock after buying an additional 4,410 shares during the quarter. Pacer Advisors Inc.’s holdings in PDD were worth $4,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 331 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in PDD in the fourth quarter worth approximately $43,000. Turim 21 Investimentos Ltda. purchased a new stake in PDD in the third quarter worth approximately $55,000. Finally, Wahed Invest LLC purchased a new stake in PDD in the first quarter worth approximately $70,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Down 0.4 %

Shares of PDD stock opened at $116.25 on Friday. The company has a market capitalization of $153.40 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 0.31 and a beta of 0.67. PDD Holdings Inc. has a one year low of $59.67 and a one year high of $152.99. The company’s fifty day moving average price is $127.79 and its 200-day moving average price is $123.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PDD. JPMorgan Chase & Co. decreased their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group increased their price target on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Benchmark increased their price target on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Barclays increased their price target on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, Citigroup increased their price target on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $146.85.

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.