Banco Santander S.A. Has $1.71 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Banco Santander S.A. grew its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 61.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,591 shares of the company's stock after buying an additional 6,727 shares during the period. Banco Santander S.A.'s holdings in PDD were worth $1,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenwoods Asset Management Hong Kong Ltd. increased its stake in shares of PDD by 2.6% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 4,635,519 shares of the company's stock valued at $449,599,000 after buying an additional 117,733 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of PDD in the 4th quarter valued at $3,114,000. M&T Bank Corp increased its stake in shares of PDD by 11.0% in the 4th quarter. M&T Bank Corp now owns 17,570 shares of the company's stock valued at $1,704,000 after buying an additional 1,740 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of PDD by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 927,788 shares of the company's stock worth $89,986,000 after purchasing an additional 23,772 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of PDD during the fourth quarter worth $189,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PDD. Jefferies Financial Group decreased their price objective on PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Dbs Bank cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut PDD from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Benchmark decreased their price objective on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.40.

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PDD Stock Performance

PDD stock opened at $119.92 on Monday. The firm has a market cap of $164.99 billion, a PE ratio of 11.71, a P/E/G ratio of 0.32 and a beta of 0.69. The business's 50-day moving average price is $110.66 and its two-hundred day moving average price is $112.09. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. 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 Company 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.

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