First Trust Advisors LP Has $107.23 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)
First Trust Advisors LP reduced its stake in PDD Holdings Inc. (NASDAQ:PDD) by 2.4% in Q4, now holding 1,105,523 shares valued at approximately $107.23 million. Other hedge funds have also adjusted their positions, with Stifel Financial Corp increasing its holdings by 172.8%. Analysts have mixed ratings on PDD, with a consensus rating of "Moderate Buy" and a price target of $169.91. PDD's stock opened at $93.69, with a market cap of $128.91 billion and a PE ratio of 9.15.
First Trust Advisors LP decreased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,105,523 shares of the company's stock after selling 26,762 shares during the quarter. First Trust Advisors LP owned about 0.08% of PDD worth $107,225,000 as of its most recent filing with the Securities & Exchange Commission.
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Other hedge funds also recently modified their holdings of the company. Stifel Financial Corp boosted its holdings in PDD by 172.8% in the third quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock worth $863,000 after acquiring an additional 4,054 shares in the last quarter. Tidal Investments LLC grew its position in PDD by 1,019.4% in the 3rd quarter. Tidal Investments LLC now owns 71,173 shares of the company's stock valued at $9,595,000 after purchasing an additional 64,815 shares during the period. Oddo BHF Asset Management Sas bought a new stake in PDD during the 3rd quarter valued at $653,000. Lord Abbett & CO. LLC raised its holdings in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock worth $5,155,000 after buying an additional 14,905 shares during the last quarter. Finally, Range Financial Group LLC bought a new position in shares of PDD in the fourth quarter valued at $224,000. Institutional investors own 39.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Citigroup restated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group cut their price objective on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Finally, Benchmark reissued a "buy" rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and a consensus price target of $169.91.
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View Our Latest Research Report on PDD
PDD Price Performance
NASDAQ PDD opened at $93.69 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 company has a market cap of $128.91 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $164.69. The firm's 50-day simple moving average is $114.56 and its two-hundred day simple moving average is $112.51.
PDD Company Profile
(Free Report)- Up 32% in 2025, Is Chinese E-Commerce Giant PDD Still a Buy?
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.
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