Leading Securities Co Ltd Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Leading Securities Co Ltd acquired a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 139,370 shares of the company's stock, valued at approximately $13,517,000. PDD comprises 43.9% of Leading Securities Co Ltd's portfolio, making the stock its 2nd biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Financial Counselors Inc. grew its position in PDD by 17.5% in the 4th quarter. Financial Counselors Inc. now owns 2,306 shares of the company's stock valued at $224,000 after acquiring an additional 344 shares in the last quarter. IvyRock Asset Management HK Ltd grew its stake in shares of PDD by 10.9% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 930,336 shares of the company's stock worth $90,233,000 after acquiring an additional 91,800 shares in the last quarter. AI Squared Management Ltd increased its position in shares of PDD by 218.5% during the fourth quarter. AI Squared Management Ltd now owns 115,300 shares of the company's stock worth $11,183,000 after acquiring an additional 79,100 shares during the period. GQG Partners LLC acquired a new stake in shares of PDD in the fourth quarter valued at $5,045,000. Finally, Vanguard Group Inc. boosted its holdings in PDD by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock valued at $2,779,986,000 after purchasing an additional 268,662 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Performance

Shares of NASDAQ PDD traded down $3.91 during trading hours on Friday, reaching $120.45. The stock had a trading volume of 6,950,853 shares, compared to its average volume of 10,689,709. The firm has a 50-day moving average of $118.16 and a 200-day moving average of $114.33. The firm has a market cap of $165.72 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Nomura reiterated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Finally, Jefferies Financial Group lowered their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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.