Capital International Inc. CA Buys New Shares in PDD Holdings Inc. (NASDAQ:PDD)

Capital International Inc. CA bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 76,729 shares of the company's stock, valued at approximately $7,442,000.

Several other institutional investors have also recently made changes to their positions in PDD. Lord Abbett & CO. LLC raised its holdings in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock valued at $5,155,000 after acquiring an additional 14,905 shares during the period. Headwater Capital Co Ltd bought a new position in shares of PDD in the fourth quarter worth about $9,699,000. Renaissance Technologies LLC lifted its holdings in shares of PDD by 56.3% in the 4th 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. Baillie Gifford & Co. lifted its position 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 worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in PDD in the fourth quarter worth about $4,685,000. Institutional investors own 39.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on PDD shares. Jefferies Financial Group lowered 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. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of PDD in a report on Friday, March 21st. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Citigroup restated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. 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.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Price Performance

Shares of NASDAQ PDD traded up $2.09 during trading on Wednesday, hitting $100.43. 14,236,060 shares of the company were exchanged, compared to its average volume of 11,291,497. The firm's fifty day moving average price is $113.61 and its 200 day moving average price is $112.00. 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 company has a market cap of $138.18 billion, a price-to-earnings ratio of 9.81, 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.

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.