PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by BIT Capital GmbH

BIT Capital GmbH raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 85.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 685,365 shares of the company’s stock after buying an additional 315,919 shares during the quarter. PDD comprises 5.3% of BIT Capital GmbH’s portfolio, making the stock its 5th largest position. BIT Capital GmbH’s holdings in PDD were worth $66,474,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PDD. Baillie Gifford & Co. lifted its holdings in PDD by 5.4% in the fourth 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. Vanguard Group Inc. lifted its holdings in shares of PDD by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock worth $2,779,986,000 after purchasing an additional 268,662 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PDD by 1,374.3% during 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 valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Appaloosa LP grew its stake in PDD by 1.0% during the 4th quarter. Appaloosa LP now owns 5,356,132 shares of the company’s stock worth $519,491,000 after buying an additional 55,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in PDD by 12.3% in the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after buying an additional 513,248 shares during the period. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

PDD Trading Down 2.2 %

Shares of NASDAQ:PDD opened at $122.47 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $168.50 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a 50 day moving average price of $117.38 and a 200 day moving average price of $113.92.

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.