Cantor Fitzgerald L. P. Purchases New Position in PDD Holdings Inc. (NASDAQ:PDD)

Cantor Fitzgerald L. P. bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,507 shares of the company's stock, valued at approximately $437,000.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in PDD in the fourth quarter worth $39,000. Brooklyn Investment Group boosted its position in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC increased its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after buying an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after buying an additional 249 shares during the period. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of recent research reports. Nomura restated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Citigroup reiterated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Finally, Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average target price of $169.91.

PDD Stock Performance

Shares of PDD stock traded down $1.93 on Wednesday, reaching $109.39. 5,469,052 shares of the company traded hands, compared to its average volume of 11,146,514. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $150.51 billion, a PE ratio of 10.68, a PEG ratio of 0.32 and a beta of 0.57. The company has a 50 day moving average of $110.03 and a 200 day moving average of $109.87. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $164.69.

PDD Company 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.