Aware Super Pty Ltd as trustee of Aware Super Makes New $6.90 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 71,104 shares of the company's stock, valued at approximately $6,896,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PDD. Lord Abbett & CO. LLC boosted its holdings in PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock valued at $5,155,000 after purchasing an additional 14,905 shares during the period. Headwater Capital Co Ltd acquired a new stake in PDD in the 4th quarter valued at about $9,699,000. Baillie Gifford & Co. boosted its stake 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 valued at $3,691,376,000 after buying an additional 1,942,891 shares during the period. Renaissance Technologies LLC increased its stake in shares of PDD by 56.3% during the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock worth $91,898,000 after buying an additional 341,300 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in PDD in the fourth quarter valued at approximately $4,685,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDD has been the subject of several analyst reports. Nomura reiterated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Citigroup reissued a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group cut their price target on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PDD has an average rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Performance

Shares of PDD stock traded up $1.34 on Friday, reaching $93.69. 10,674,242 shares of the stock were exchanged, compared to its average volume of 11,295,157. The firm 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 1-year low of $87.11 and a 1-year high of $164.69. The business has a fifty day moving average price of $115.04 and a two-hundred day moving average price of $113.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.