PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by WCM Investment Management LLC

WCM Investment Management LLC boosted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 657.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,745 shares of the company’s stock after buying an additional 11,062 shares during the quarter. WCM Investment Management LLC’s holdings in PDD were worth $1,203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its position in shares of PDD by 17.7% during the 4th quarter. Apollon Wealth Management LLC now owns 3,077 shares of the company’s stock valued at $298,000 after acquiring an additional 463 shares during the period. Global X Japan Co. Ltd. boosted its position in PDD by 21.8% during the fourth quarter. Global X Japan Co. Ltd. now owns 189,389 shares of the company’s stock worth $18,369,000 after purchasing an additional 33,907 shares in the last quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd acquired a new stake in PDD in the fourth quarter valued at approximately $2,308,000. Stephens Consulting LLC purchased a new stake in shares of PDD in the fourth quarter valued at approximately $97,000. Finally, Caas Capital Management LP raised its stake in shares of PDD by 4,814.5% during the 4th quarter. Caas Capital Management LP now owns 9,429 shares of the company’s stock worth $915,000 after buying an additional 9,629 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Up 1.8 %

Shares of PDD stock opened at $116.34 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company’s 50-day moving average price is $102.90 and its 200-day moving average price is $114.34. The stock has a market cap of $160.07 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.29 and a beta of 0.67.

Analysts Set New Price Targets

PDD has been the topic of a number of research analyst reports. Benchmark dropped their price target 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. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

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.