Y Intercept Hong Kong Ltd Makes New $4.69 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Y Intercept Hong Kong Ltd acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 48,305 shares of the company’s stock, valued at approximately $4,685,000.

Several other hedge funds also recently added to or reduced their stakes in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 buying an additional 12,253,589 shares during the last quarter. H&H International Investment LLC lifted its position in shares of 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 buying an additional 3,804,600 shares during 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 worth $3,691,376,000 after buying an additional 1,942,891 shares during the last quarter. FMR LLC lifted its position in PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. Finally, Capital Today Evergreen Fund L.P. lifted its position 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 valued at $241,853,000 after purchasing an additional 935,854 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Jefferies Financial Group cut their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Benchmark dropped their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Performance

Shares of PDD opened at $131.34 on Monday. The firm’s 50 day moving average is $107.12 and its 200-day moving average is $113.94. The stock has a market capitalization of $180.71 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.32 and a beta of 0.67. 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 12-month low of $88.01 and a 12-month high of $164.69.

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.