Quantinno Capital Management LP Has $4.10 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Quantinno Capital Management LP increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 381.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,411 shares of the company’s stock after purchasing an additional 24,092 shares during the quarter. Quantinno Capital Management LP’s holdings in PDD were worth $4,100,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PDD. Prospera Private Wealth LLC acquired a new position in PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC acquired a new position in PDD in the 3rd quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD in the 2nd quarter valued at approximately $32,000. Richardson Financial Services Inc. increased its position in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in PDD in the 3rd quarter valued at approximately $34,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 0.9 %

NASDAQ:PDD opened at $99.89 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $137.44 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.28 and a beta of 0.66. The firm has a fifty day simple moving average of $121.25 and a two-hundred day simple moving average of $126.60. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PDD shares. Bank of America decreased their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Benchmark reduced their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

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.