Himension Capital Singapore PTE. LTD. Acquires 66,819 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Himension Capital Singapore PTE. LTD. boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 159.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,850 shares of the company's stock after purchasing an additional 66,819 shares during the quarter. PDD comprises approximately 0.7% of Himension Capital Singapore PTE. LTD.'s investment portfolio, making the stock its 17th largest holding. Himension Capital Singapore PTE. LTD.'s holdings in PDD were worth $10,557,000 at the end of the most recent quarter.

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

PDD Price Performance

PDD stock traded up $0.75 during midday trading on Friday, reaching $89.10. The company had a trading volume of 12,593,694 shares, compared to its average volume of 11,130,914. The firm has a 50-day moving average price of $117.08 and a 200-day moving average price of $114.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $122.59 billion, a P/E ratio of 8.69, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of PDD in a report on Friday, March 21st. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Nomura reissued a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.