Capital International Sarl Acquires New Position in PDD Holdings Inc. (NASDAQ:PDD)

Capital International Sarl acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,721 shares of the company’s stock, valued at approximately $458,000.

A number of other institutional investors have also bought and sold shares of PDD. Nisa Investment Advisors LLC purchased a new stake in PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group lifted its position in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after buying an additional 405 shares during the last quarter. Global Retirement Partners LLC boosted its stake in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC increased its position in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after acquiring an additional 249 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PDD. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Jefferies Financial Group decreased their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. lifted 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. Finally, Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

Shares of PDD stock opened at $93.69 on Friday. The company has a market cap of $128.91 billion, a P/E ratio of 9.15, a PEG ratio of 0.32 and a beta of 0.73. The firm has a fifty day moving average price of $114.56 and a 200 day moving average price of $112.79. 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 12 month low of $87.11 and a 12 month high of $164.69.

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.