FIL Ltd Boosts Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

FIL Ltd grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 72.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,978,622 shares of the company's stock after acquiring an additional 3,350,627 shares during the period. FIL Ltd owned about 0.58% of PDD worth $773,847,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp raised its holdings in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares in the last quarter. New York Life Investment Management LLC lifted its stake in shares of PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp grew its stake in PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after purchasing an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

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PDD Stock Performance

PDD stock traded up $2.15 during mid-day trading on Friday, reaching $90.50. 21,093,347 shares of the company's stock were exchanged, compared to its average volume of 11,197,758. The business's fifty day simple moving average is $116.61 and its 200 day simple moving average is $114.28. 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 one year low of $87.11 and a one year high of $164.69. The firm has a market capitalization of $124.52 billion, a PE ratio of 8.84, a P/E/G ratio of 0.32 and a beta of 0.73.

Wall Street Analysts Forecast Growth

PDD has been the subject of several recent analyst reports. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group cut their price objective on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. upped their target price on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Five investment 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $169.91.

PDD 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.