Lester Murray Antman dba SimplyRich Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Lester Murray Antman dba SimplyRich acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,610 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds also recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd boosted its holdings in PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares during the period. Lord Abbett & CO. LLC raised its position 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 worth $5,155,000 after buying an additional 14,905 shares in the last quarter. TB Alternative Assets Ltd. boosted its stake in PDD by 33.7% during the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after buying an additional 43,648 shares during the period. Vontobel Holding Ltd. boosted its stake in PDD by 13.3% during the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after buying an additional 27,567 shares during the period. Finally, BOCHK Asset Management Ltd grew its position in PDD by 3,391.7% during the third quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after buying an additional 40,700 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PDD shares. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group dropped their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Benchmark cut their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, PDD has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Price Performance

Shares of PDD stock opened at $117.48 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The business’s 50 day simple moving average is $103.25 and its two-hundred day simple moving average is $114.24. The stock has a market capitalization of $161.64 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

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.