Synergy Asset Management LLC Increases Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Synergy Asset Management LLC increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 138.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 205,740 shares of the company’s stock after acquiring an additional 119,580 shares during the quarter. PDD makes up about 1.5% of Synergy Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Synergy Asset Management LLC’s holdings in PDD were worth $19,955,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of PDD by 29.4% during the second quarter. Creative Planning now owns 20,625 shares of the company’s stock worth $2,742,000 after purchasing an additional 4,680 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in PDD by 9.4% in the 2nd quarter. NewEdge Advisors LLC now owns 15,207 shares of the company’s stock worth $2,022,000 after buying an additional 1,304 shares during the last quarter. Cetera Investment Advisers increased its stake in PDD by 21.2% during the 2nd quarter. Cetera Investment Advisers now owns 41,554 shares of the company’s stock worth $5,525,000 after buying an additional 7,255 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of PDD during the second quarter valued at approximately $15,329,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of PDD during the second quarter valued at approximately $1,211,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 0.1 %

PDD stock opened at $112.04 on Thursday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The firm has a market cap of $154.15 billion, a PE ratio of 10.94, a PEG ratio of 0.27 and a beta of 0.66. The firm’s 50 day moving average price is $101.28 and its 200-day moving average price is $115.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analysts Set New Price Targets

PDD has been the topic of a number of research analyst reports. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Finally, Benchmark dropped their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have 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 $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.