Union Bancaire Privee UBP SA Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Union Bancaire Privee UBP SA purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,502 shares of the company’s stock, valued at approximately $1,343,000.

Several other large investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares during the last quarter. H&H International Investment LLC boosted its position in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after acquiring an additional 3,804,600 shares during the last quarter. Baillie Gifford & Co. boosted its position in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. FMR LLC boosted its position in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares during the last quarter. Finally, Capital Today Evergreen Fund L.P. boosted its position in PDD by 60.1% during the fourth quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock worth $241,853,000 after acquiring an additional 935,854 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock opened at $131.34 on Monday. The company’s fifty day simple moving average is $107.12 and its 200-day simple moving average is $113.94. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. 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 company has a market cap of $180.71 billion, a PE ratio of 12.83, a P/E/G ratio of 0.32 and a beta of 0.67.

Analysts Set New Price Targets

A number of analysts recently issued reports on PDD shares. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark decreased their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group decreased their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Three 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.