PDD Holdings Inc. (NASDAQ:PDD) is Brilliance Asset Management Ltd.’s 4th Largest Position

Brilliance Asset Management Ltd. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 316.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 646,212 shares of the company’s stock after purchasing an additional 490,860 shares during the quarter. PDD makes up 14.1% of Brilliance Asset Management Ltd.’s investment portfolio, making the stock its 4th biggest holding. Brilliance Asset Management Ltd.’s holdings in PDD were worth $62,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Artisan Partners Limited Partnership increased its position in shares of PDD by 56.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,041,444 shares of the company’s stock valued at $101,010,000 after purchasing an additional 375,586 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in PDD by 4.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 643,791 shares of the company’s stock worth $62,332,000 after buying an additional 25,802 shares during the last quarter. Leading Securities Co Ltd acquired a new position in shares of PDD during the 4th quarter worth about $13,517,000. Financial Counselors Inc. increased its holdings in shares of PDD by 17.5% in the 4th quarter. Financial Counselors Inc. now owns 2,306 shares of the company’s stock valued at $224,000 after acquiring an additional 344 shares during the last quarter. Finally, IvyRock Asset Management HK Ltd boosted its holdings in PDD by 10.9% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 930,336 shares of the company’s stock valued at $90,233,000 after purchasing an additional 91,800 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group cut their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Nomura reaffirmed a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Price Performance

PDD stock opened at $122.47 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The business has a 50 day simple moving average of $117.38 and a 200-day simple moving average of $113.92. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a market capitalization of $168.50 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

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.