Capital International Investors Makes New $246.82 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Capital International Investors acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,544,833 shares of the company's stock, valued at approximately $246,823,000. Capital International Investors owned 0.18% of PDD as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Capital International Sarl acquired a new position in PDD during the fourth quarter valued at $458,000. Twenty Acre Capital LP lifted its holdings in shares of PDD by 75.6% in the 4th quarter. Twenty Acre Capital LP now owns 61,300 shares of the company's stock valued at $5,945,000 after buying an additional 26,400 shares during the period. Wasatch Advisors LP boosted its stake in shares of PDD by 22.9% in the fourth quarter. Wasatch Advisors LP now owns 372,901 shares of the company's stock worth $36,168,000 after buying an additional 69,572 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of PDD by 115.6% in the fourth quarter. NewEdge Advisors LLC now owns 14,672 shares of the company's stock worth $1,423,000 after buying an additional 7,868 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in PDD by 0.3% during the fourth quarter. Guggenheim Capital LLC now owns 159,400 shares of the company's stock worth $15,460,000 after acquiring an additional 535 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PDD shares. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Nomura reiterated a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD 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 report on Friday, March 21st. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Finally, Jefferies Financial Group lowered their target price 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. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $169.91.

PDD Price Performance

Shares of NASDAQ PDD traded up $2.09 during midday trading on Wednesday, hitting $100.43. The stock had a trading volume of 14,236,060 shares, compared to its average volume of 11,308,324. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69. The company has a market capitalization of $138.18 billion, a PE ratio of 9.81, a P/E/G ratio of 0.32 and a beta of 0.73. The stock has a 50 day simple moving average of $113.61 and a 200-day simple moving average of $112.00.

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.