PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 129,148 shares of the company's stock after buying an additional 11,666 shares during the quarter. Rafferty Asset Management LLC's holdings in PDD were worth $12,526,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PDD. Nisa Investment Advisors LLC purchased a new stake in PDD during the fourth quarter worth approximately $39,000. Brooklyn Investment Group lifted its stake in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after buying an additional 405 shares during the last quarter. 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 valued at $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after buying an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Price Performance

PDD stock traded down $1.07 on Tuesday, reaching $117.38. 4,974,169 shares of the company's stock were exchanged, compared to its average volume of 11,097,263. The stock has a fifty day moving average of $109.84 and a 200-day moving average of $109.27. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69. The firm has a market cap of $163.41 billion, a PE ratio of 11.46, a P/E/G ratio of 0.32 and a beta of 0.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

PDD has been the subject of a number of research reports. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. boosted their price objective on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Nomura reissued a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, nine have given 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 $174.00.

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.