GQG Partners LLC Buys Shares of 52,012 PDD Holdings Inc. (NASDAQ:PDD)

GQG Partners LLC acquired a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 52,012 shares of the company's stock, valued at approximately $5,045,000.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the 4th quarter valued at about $39,000. Avior Wealth Management LLC increased its holdings in PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after buying an additional 169 shares during the last quarter. Brooklyn Investment Group raised its position in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after acquiring an additional 405 shares during the period. Global Retirement Partners LLC boosted its stake in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after acquiring an additional 498 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Trading Down 3.1 %

Shares of PDD stock traded down $3.91 on Friday, reaching $120.45. The company had a trading volume of 6,950,853 shares, compared to its average volume of 10,689,709. The firm has a market cap of $165.72 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm's 50-day moving average price is $118.16 and its two-hundred day moving average price is $114.33. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. boosted their price objective on PDD from $105.00 to $125.00 and gave the company a "neutral" 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, Nomura reiterated a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $169.91.

About PDD

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.