PDD Holdings Inc. (NASDAQ:PDD) Stock Position Raised by Financial Counselors Inc.

Financial Counselors Inc. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,306 shares of the company’s stock after purchasing an additional 344 shares during the period. Financial Counselors Inc.’s holdings in PDD were worth $224,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. H&H International Investment LLC lifted its stake in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after buying an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares in the last quarter. Capital Today Evergreen Fund L.P. boosted 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 purchasing an additional 935,854 shares during the period. HighTower Advisors LLC grew its position in PDD by 100.5% during the 3rd quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock worth $559,000 after purchasing an additional 800,614 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in PDD by 82,362.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 631,666 shares of the company’s stock valued at $61,265,000 after purchasing an additional 630,900 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PDD. Nomura reaffirmed a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group reduced their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Trading Down 3.1 %

Shares of NASDAQ:PDD opened at $120.45 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $165.72 billion, a PE ratio of 11.76, a P/E/G 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 firm has a fifty day moving average price of $118.16 and a 200 day moving average price of $114.33.

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.