Yarbrough Capital LLC Acquires New Shares in PDD Holdings Inc. (NASDAQ:PDD)

Yarbrough Capital LLC bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,025 shares of the company’s stock, valued at approximately $1,942,000.

Several other institutional investors have also recently made changes to their positions in PDD. Parallel Advisors LLC increased its position in shares of PDD by 5.3% during the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock valued at $324,000 after buying an additional 122 shares during the period. Envestnet Asset Management Inc. grew its stake in PDD by 263.0% during the second quarter. Envestnet Asset Management Inc. now owns 102,006 shares of the company’s stock valued at $13,562,000 after acquiring an additional 73,908 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PDD by 22.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 409,668 shares of the company’s stock valued at $54,465,000 after acquiring an additional 76,380 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in PDD by 56.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,219 shares of the company’s stock worth $1,757,000 after acquiring an additional 4,750 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in PDD by 3.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,180 shares of the company’s stock worth $1,613,000 after purchasing an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Down 0.4 %

Shares of NASDAQ PDD opened at $100.26 on Friday. The stock has a market capitalization of $137.94 billion, a P/E ratio of 9.79, a PEG ratio of 0.25 and a beta of 0.66. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The firm’s 50 day simple moving average is $103.13 and its two-hundred day simple moving average is $117.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Benchmark dropped their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD 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.