Tower Research Capital LLC TRC Purchases 23,929 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Tower Research Capital LLC TRC raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 157.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,124 shares of the company's stock after purchasing an additional 23,929 shares during the quarter. Tower Research Capital LLC TRC's holdings in PDD were worth $3,795,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Stifel Financial Corp lifted its position in shares of PDD by 172.8% during the 3rd quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock valued at $863,000 after acquiring an additional 4,054 shares during the last quarter. Tidal Investments LLC grew its position in PDD by 1,019.4% during the 3rd quarter. Tidal Investments LLC now owns 71,173 shares of the company's stock worth $9,595,000 after purchasing an additional 64,815 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in PDD during the 3rd quarter valued at $653,000. Lord Abbett & CO. LLC lifted its holdings in shares of PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock valued at $5,155,000 after purchasing an additional 14,905 shares in the last quarter. Finally, Range Financial Group LLC acquired a new stake in shares of PDD in the fourth quarter worth $224,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Up 0.7 %

Shares of NASDAQ:PDD traded up $0.74 on Friday, reaching $104.01. The company had a trading volume of 5,059,614 shares, compared to its average volume of 11,286,159. The stock has a 50-day moving average price of $112.23 and a 200 day moving average price of $111.29. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69. The stock has a market capitalization of $143.10 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.32 and a beta of 0.73.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PDD shares. Citigroup reissued a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Nomura reissued a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Benchmark restated a "buy" rating and set a $160.00 price target on shares of PDD in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $169.91.

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.