PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 14.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 808,375 shares of the company's stock after purchasing an additional 104,963 shares during the quarter. ProShare Advisors LLC owned 0.06% of PDD worth $78,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PDD. Carolina Wealth Advisors LLC lifted its position in shares of PDD by 347.1% during the 4th quarter. Carolina Wealth Advisors LLC now owns 2,173 shares of the company's stock valued at $211,000 after buying an additional 1,687 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of PDD by 5.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,430 shares of the company's stock valued at $721,000 after buying an additional 400 shares in the last quarter. Sicart Associates LLC lifted its position in shares of PDD by 8.2% during the 4th quarter. Sicart Associates LLC now owns 10,116 shares of the company's stock valued at $981,000 after buying an additional 767 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of PDD by 3.1% during the 4th quarter. Ritholtz Wealth Management now owns 13,894 shares of the company's stock valued at $1,348,000 after buying an additional 414 shares in the last quarter. Finally, Yarbrough Capital LLC purchased a new position in shares of PDD during the 4th quarter valued at approximately $1,942,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Nomura restated a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and raised their price objective for the company from $127.00 to $165.00 in a report on Monday, May 12th. Finally, Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $174.00.

PDD Trading Up 0.7%

PDD traded up $0.84 on Monday, hitting $118.45. The company had a trading volume of 5,275,846 shares, compared to its average volume of 11,133,104. The firm has a market cap of $164.90 billion, a P/E ratio of 11.57, a PEG ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69. The company's fifty day moving average price is $109.83 and its 200 day moving average price is $109.29. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.