PDD Holdings Inc. (NASDAQ:PDD) is Greenwoods Asset Management Hong Kong Ltd.'s 2nd Largest Position

Greenwoods Asset Management Hong Kong Ltd. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,635,519 shares of the company's stock after acquiring an additional 117,733 shares during the period. PDD accounts for approximately 14.3% of Greenwoods Asset Management Hong Kong Ltd.'s portfolio, making the stock its 2nd biggest position. Greenwoods Asset Management Hong Kong Ltd. owned about 0.34% of PDD worth $449,599,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in PDD during the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new stake in shares of PDD during the 3rd quarter worth about $29,000. Nisa Investment Advisors LLC purchased a new stake in PDD in the 4th quarter valued at about $39,000. Avior Wealth Management LLC lifted its position in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after buying an additional 169 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Up 2.0 %

PDD stock traded up $2.35 during midday trading on Tuesday, reaching $117.98. The company's stock had a trading volume of 6,476,141 shares, compared to its average volume of 8,696,830. The business has a 50-day simple moving average of $111.08 and a 200-day simple moving average of $111.87. The company has a market cap of $162.33 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PDD. Dbs Bank downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price target on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut PDD from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Benchmark cut their price objective on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $173.40.

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.