Global X Japan Co. Ltd. Purchases 33,907 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Global X Japan Co. Ltd. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 189,389 shares of the company’s stock after acquiring an additional 33,907 shares during the quarter. PDD makes up approximately 2.3% of Global X Japan Co. Ltd.’s holdings, making the stock its 14th biggest holding. Global X Japan Co. Ltd.’s holdings in PDD were worth $18,369,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new position in PDD during the third quarter worth $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD in the 3rd quarter valued at approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of PDD during the 3rd quarter worth about $34,000. Nisa Investment Advisors LLC purchased a new stake in shares of PDD in the 4th quarter valued at about $39,000. Finally, Brooklyn Investment Group boosted its stake in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $112.72 on Friday. The company has a market capitalization of $155.09 billion, a P/E ratio of 11.01, a PEG ratio of 0.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a fifty day moving average price of $102.27 and a 200-day moving average price of $114.74.

Analyst Ratings Changes

A number of analysts have commented on the company. Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PDD has an average rating of “Moderate Buy” and a consensus target price of $173.40.

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.