Tounjian Advisory Partners LLC Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Tounjian Advisory Partners LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,554 shares of the company's stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PDD. Global Retirement Partners LLC lifted its stake in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 acquiring an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after acquiring an additional 97 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in PDD in the 4th quarter worth approximately $126,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Up 0.1%

Shares of PDD traded up $0.08 on Thursday, hitting $103.24. 3,584,030 shares of the stock traded hands, compared to its average volume of 11,053,147. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $155.67. The company has a market capitalization of $143.73 billion, a PE ratio of 10.08, a P/E/G ratio of 0.32 and a beta of 0.42. The business has a 50 day simple moving average of $104.06 and a 200 day simple moving average of $108.14. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Benchmark cut their target price on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and boosted their price target for the company from $127.00 to $165.00 in a report on Monday, May 12th. Barclays cut PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Finally, Jefferies Financial Group set a $121.00 target price on PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

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.