Sanders Capital LLC Invests $499.97 Million in PDD Holdings Inc. (NASDAQ:PDD)

Sanders Capital LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,154,878 shares of the company's stock, valued at approximately $499,972,000. Sanders Capital LLC owned approximately 0.37% of PDD as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group boosted its stake in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after purchasing an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PDD. Nomura reissued a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. upped their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Finally, Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $169.91.

PDD Price Performance

Shares of PDD traded up $1.34 on Friday, hitting $93.69. The company's stock had a trading volume of 10,674,242 shares, compared to its average volume of 11,295,157. The company has a market capitalization of $128.91 billion, a PE ratio of 9.15, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $164.69. The company has a 50 day moving average price of $115.04 and a 200 day moving average price of $113.42. 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 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.