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

Wasatch Advisors LP grew its position in PDD Holdings Inc. (NASDAQ:PDD) by 24.4% in the third quarter, Holdings Channel.com reports. The fund owned 303,329 shares of the company’s stock after buying an additional 59,592 shares during the period. Wasatch Advisors LP’s holdings in PDD were worth $40,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. TB Alternative Assets Ltd. increased its holdings in shares of PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after acquiring an additional 43,648 shares during the last quarter. Vontobel Holding Ltd. boosted its position in PDD by 13.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after purchasing an additional 27,567 shares during the period. Jupiter Asset Management Ltd. boosted its position in PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after purchasing an additional 89,853 shares during the period. BOCHK Asset Management Ltd boosted its position in PDD by 3,391.7% during the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock valued at $5,649,000 after purchasing an additional 40,700 shares during the period. Finally, M&G PLC boosted its position in PDD by 14.2% during the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock valued at $33,401,000 after purchasing an additional 30,817 shares during the period. 29.07% of the stock is currently owned by institutional investors.

PDD Trading Down 2.3 %

Shares of PDD stock opened at $96.56 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $132.85 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. The business has a fifty day simple moving average of $123.25 and a 200-day simple moving average of $128.33. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PDD shares. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Barclays reduced their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Finally, Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.