Vise Technologies Inc. Acquires 6,985 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Vise Technologies Inc. raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 304.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,280 shares of the company's stock after buying an additional 6,985 shares during the period. Vise Technologies Inc.'s holdings in PDD were worth $900,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its holdings in PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after acquiring an additional 97 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after purchasing an additional 132 shares in the last quarter. New York Life Investment Management LLC increased its stake in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock worth $245,000 after purchasing an additional 139 shares in the last quarter. Cibc World Markets Corp raised its position in shares of PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after purchasing an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of analyst reports. China Renaissance reiterated a "hold" rating and issued a $107.00 price target on shares of PDD in a research note on Wednesday. Jefferies Financial Group set a $121.00 price objective on PDD and gave the stock a "buy" rating in a research note on Tuesday. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Nomura reissued a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 price objective on shares of PDD in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Price Performance

Shares of NASDAQ:PDD traded up $0.44 on Thursday, reaching $98.32. The company's stock had a trading volume of 15,150,689 shares, compared to its average volume of 10,153,938. The company has a 50-day simple moving average of $108.09 and a 200 day simple moving average of $109.04. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week high of $155.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $136.88 billion, a P/E ratio of 9.60, a PEG ratio of 0.32 and a beta of 0.57.

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.