PDD Holdings Inc. (NASDAQ:PDD) Stock Position Raised by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lifted its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,789 shares of the company's stock after buying an additional 6,748 shares during the quarter. AustralianSuper Pty Ltd's holdings in PDD were worth $2,210,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PDD. Prime Capital Investment Advisors LLC increased its holdings in shares of PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company's stock worth $244,000 after acquiring an additional 89 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company's stock worth $354,000 after acquiring an additional 166 shares during the period. CWM LLC grew its holdings in PDD by 19.3% in the 3rd quarter. CWM LLC now owns 1,046 shares of the company's stock worth $141,000 after buying an additional 169 shares in the last quarter. Avior Wealth Management LLC grew its holdings in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock worth $68,000 after buying an additional 169 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in PDD in the 3rd quarter valued at approximately $27,000. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on PDD. Dbs Bank cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Benchmark decreased their target price on shares of PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group dropped their price target 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, JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $173.40.

PDD Price Performance

NASDAQ PDD traded down $4.03 on Wednesday, reaching $124.43. 8,065,994 shares of the stock traded hands, compared to its average volume of 8,384,187. The firm's fifty day simple moving average is $105.72 and its 200 day simple moving average is $114.03. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $171.20 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 0.32 and a beta of 0.67. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

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.