PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 930,336 shares of the company's stock after acquiring an additional 91,800 shares during the quarter. PDD makes up approximately 39.8% of IvyRock Asset Management HK Ltd's holdings, making the stock its biggest holding. IvyRock Asset Management HK Ltd owned 0.07% of PDD worth $90,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PDD. Gordian Capital Singapore Pte Ltd boosted its holdings in shares of PDD by 1,218.9% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock valued at $942,000 after acquiring an additional 6,460 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock worth $5,155,000 after acquiring an additional 14,905 shares during the period. Maple Rock Capital Partners Inc. acquired a new stake in shares of PDD in the 3rd quarter worth about $74,221,000. Headwater Capital Co Ltd acquired a new position in PDD during the 4th quarter valued at about $9,699,000. Finally, Baillie Gifford & Co. grew its position in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

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Wall Street Analyst Weigh In

PDD has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Citigroup reiterated a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of PDD in a report on Friday, March 21st. Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Five equities research 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 company presently has an average rating of "Moderate Buy" and an average target price of $169.91.

PDD Price Performance

Shares of NASDAQ:PDD traded down $3.91 during trading hours on Friday, hitting $120.45. 6,950,853 shares of the company's stock traded hands, compared to its average volume of 10,689,709. 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 company's fifty day simple moving average is $118.16 and its two-hundred day simple moving average is $114.33. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a market cap of $165.72 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

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.