Carolina Wealth Advisors LLC Boosts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Carolina Wealth Advisors LLC raised its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 347.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,173 shares of the company’s stock after purchasing an additional 1,687 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in PDD were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Headwater Capital Co Ltd purchased a new position in PDD in the 4th quarter valued at about $9,699,000. Range Financial Group LLC acquired a new stake in shares of PDD during the 4th quarter worth approximately $224,000. Lord Abbett & CO. LLC increased its holdings in shares of PDD by 63.9% during the 3rd 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. Oddo BHF Asset Management Sas acquired a new stake in PDD in the 3rd quarter valued at approximately $653,000. Finally, Tidal Investments LLC increased its holdings 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 last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Up 2.6 %

NASDAQ PDD opened at $100.70 on Thursday. The stock has a market capitalization of $138.55 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.25 and a beta of 0.66. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The firm has a 50-day moving average price of $103.53 and a 200 day moving average price of $117.76. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

Analyst Ratings Changes

Several equities analysts have commented on PDD shares. Jefferies Financial Group decreased their price target 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. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Benchmark decreased their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Profile

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.