Northwest & Ethical Investments L.P. Buys 1,996 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Northwest & Ethical Investments L.P. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,881 shares of the company’s stock after purchasing an additional 1,996 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in PDD were worth $1,734,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PDD by 1,374.3% in the 3rd 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 increased its stake in PDD by 3,693.8% in the 3rd 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. increased its stake 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 acquiring an additional 1,942,891 shares during the last quarter. FMR LLC increased its stake in PDD by 8.6% in the 3rd 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. increased its stake in PDD by 60.1% in the 4th 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.

PDD Price Performance

PDD opened at $126.64 on Friday. The stock’s 50 day simple moving average is $115.75 and its 200 day simple moving average is $113.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The firm has a market cap of $174.24 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PDD shares. Nomura restated a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group cut their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. Four research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

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.