O Shaughnessy Asset Management LLC Acquires 518 Shares of PDD Holdings Inc. (NASDAQ:PDD)

O Shaughnessy Asset Management LLC increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,762 shares of the company’s stock after buying an additional 518 shares during the period. O Shaughnessy Asset Management LLC’s holdings in PDD were worth $4,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd increased its stake in shares of PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after acquiring an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in PDD by 63.9% during the third 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. Maple Rock Capital Partners Inc. bought a new stake in PDD in the third quarter valued at approximately $74,221,000. Headwater Capital Co Ltd acquired a new stake in PDD in the fourth quarter worth $9,699,000. Finally, Baillie Gifford & Co. boosted its position in shares of PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PDD has been the topic of several research analyst reports. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group cut their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Benchmark restated a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Price Performance

NASDAQ:PDD opened at $119.07 on Thursday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a market cap of $163.83 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.32 and a beta of 0.73. 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’s 50-day simple moving average is $119.09 and its 200 day simple moving average is $114.84.

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.