Charles Schwab Investment Management Inc. boosted its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 927,788 shares of the company's stock after purchasing an additional 23,772 shares during the period. Charles Schwab Investment Management Inc. owned about 0.07% of PDD worth $89,986,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd lifted its stake in PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock valued at $942,000 after purchasing an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in PDD by 63.9% in the 3rd 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 last quarter. Maple Rock Capital Partners Inc. acquired a new stake in PDD in the 3rd quarter valued at about $74,221,000. Headwater Capital Co Ltd acquired a new stake in PDD in the 4th quarter valued at about $9,699,000. Finally, Baillie Gifford & Co. lifted its stake in 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 purchasing an additional 1,942,891 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on PDD shares. JPMorgan Chase & Co. downgraded shares of PDD from an "overweight" rating to a "neutral" rating and cut their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Benchmark lowered their price target on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Finally, Dbs Bank cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $173.40.
Get Our Latest Stock Analysis on PDD
PDD Stock Up 0.1 %
Shares of PDD opened at $119.92 on Monday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The firm's 50 day moving average is $110.66 and its 200-day moving average is $112.09. The stock has a market capitalization 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 company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.
About PDD
(
Free Report)
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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