PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,672,902 shares of the company's stock after buying an additional 186,025 shares during the period. Dimensional Fund Advisors LP owned approximately 0.19% of PDD worth $258,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in PDD during the 4th quarter worth $812,246,000. Sanders Capital LLC acquired a new position in PDD in the 4th quarter valued at about $499,972,000. FMR LLC lifted its position in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares during the period. FIL Ltd grew its stake in shares of PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after purchasing an additional 3,350,627 shares during the last quarter. Finally, Capital International Investors acquired a new position in shares of PDD in the fourth quarter valued at approximately $246,823,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Citigroup restated a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Jefferies Financial Group dropped their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $169.91.

PDD Price Performance

Shares of NASDAQ:PDD opened at $94.36 on Tuesday. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. The stock has a market cap of $129.83 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The business's fifty day moving average price is $114.07 and its two-hundred day moving average price is $112.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.

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