Exchange Traded Concepts LLC Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Exchange Traded Concepts LLC purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,903 shares of the company’s stock, valued at approximately $1,833,000.

A number of other institutional investors also recently bought and sold shares of PDD. Prospera Private Wealth LLC purchased a new stake in shares of PDD in the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD in the 3rd quarter valued at about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD in the 3rd quarter valued at about $34,000. Nisa Investment Advisors LLC purchased a new stake in shares of PDD in the 4th quarter valued at about $39,000. Finally, Brooklyn Investment Group lifted its holdings in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $111.34 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $101.52 and its two-hundred day moving average is $116.13. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a market capitalization of $153.19 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 0.27 and a beta of 0.66.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PDD. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Finally, Benchmark dropped their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, PDD has an average rating of “Moderate Buy” and an average price target of $173.40.

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.