PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Lifted by Wasatch Advisors LP

Wasatch Advisors LP lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 22.9% in the 4th quarter, Holdings Channel reports. The fund owned 372,901 shares of the company’s stock after buying an additional 69,572 shares during the period. Wasatch Advisors LP’s holdings in PDD were worth $36,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its holdings in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after purchasing an additional 14,905 shares during the period. Headwater Capital Co Ltd acquired a new position in PDD in the 4th quarter valued at approximately $9,699,000. Baillie Gifford & Co. lifted its position in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after buying an additional 1,942,891 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of PDD by 56.3% during the 4th quarter. Renaissance Technologies LLC now owns 947,500 shares of the company’s stock valued at $91,898,000 after buying an additional 341,300 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of PDD during the 4th quarter valued at $4,685,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PDD shares. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Nomura restated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group reduced their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Price Performance

NASDAQ PDD opened at $92.35 on Thursday. The company has a market cap of $127.06 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year 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 fifty day simple moving average of $115.49 and a 200 day simple moving average of $113.71.

About PDD

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.