Capital International Sarl Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Capital International Sarl bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,721 shares of the company's stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in PDD during the 4th quarter valued at about $812,246,000. Sanders Capital LLC acquired a new position in PDD in the 4th quarter worth approximately $499,972,000. FMR LLC raised its position in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after buying an additional 4,673,022 shares during the last quarter. FIL Ltd increased its stake in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after acquiring an additional 3,350,627 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. 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 a number of analyst reports. Benchmark reissued a "buy" rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Nomura restated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. 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. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Five equities 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $169.91.

PDD Price Performance

Shares of NASDAQ:PDD traded up $2.84 during midday trading on Thursday, hitting $103.27. The company's stock had a trading volume of 8,566,627 shares, compared to its average volume of 10,539,487. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The company has a market cap of $142.09 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The business's 50 day simple moving average is $113.14 and its 200 day simple moving average is $111.92.

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.