PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 544,159 shares of the company's stock after acquiring an additional 37,165 shares during the quarter. American Century Companies Inc.'s holdings in PDD were worth $52,778,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PDD by 1,374.3% during 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 valued at $1,772,106,000 after acquiring an additional 12,253,589 shares during the period. H&H International Investment LLC boosted its position 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 worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. grew its holdings in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. Capital Today Evergreen Fund L.P. increased its position in shares of PDD by 60.1% in the fourth quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company's stock valued at $241,853,000 after buying an additional 935,854 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of 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 buying an additional 800,614 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

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PDD Price Performance

Shares of NASDAQ:PDD traded down $3.91 during midday trading on Friday, hitting $120.45. The company had a trading volume of 6,950,853 shares, compared to its average volume of 10,689,709. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The stock has a market cap of $165.72 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth 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 business's 50-day simple moving average is $118.16 and its 200-day simple moving average is $114.47.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PDD. Citigroup reissued a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Jefferies Financial Group cut their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Nomura reiterated a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five 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. According to data from MarketBeat, PDD has an average rating of "Moderate Buy" and a consensus target price of $169.91.

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.