Handelsbanken Fonder AB Acquires 10,897 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Handelsbanken Fonder AB grew its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 373,216 shares of the company's stock after buying an additional 10,897 shares during the period. Handelsbanken Fonder AB's holdings in PDD were worth $36,198,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD during the third quarter worth $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the fourth quarter worth $39,000. Avior Wealth Management LLC raised its holdings in shares of PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock worth $68,000 after acquiring an additional 169 shares during the period. Finally, Brooklyn Investment Group lifted its position in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Stock Up 5.6 %

PDD traded up $6.93 during trading on Friday, reaching $131.34. 16,790,320 shares of the stock were exchanged, compared to its average volume of 8,707,887. 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 stock's 50 day moving average price is $106.54 and its two-hundred day moving average price is $114.17. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The stock has a market cap of $180.71 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67.

Analyst Upgrades and Downgrades

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

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.