Geode Capital Management LLC Boosts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Geode Capital Management LLC boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,794,895 shares of the company's stock after acquiring an additional 1,108,390 shares during the quarter. Geode Capital Management LLC owned approximately 0.42% of PDD worth $559,482,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PDD. Townsquare Capital LLC lifted its position in PDD by 51.7% during the 3rd quarter. Townsquare Capital LLC now owns 3,810 shares of the company's stock worth $514,000 after acquiring an additional 1,298 shares during the last quarter. HighTower Advisors LLC increased its holdings in PDD by 100.5% in the 3rd quarter. HighTower Advisors LLC now owns 4,129 shares of the company's stock valued at $559,000 after buying an additional 800,614 shares during the period. NFJ Investment Group LLC lifted its stake in PDD by 18.6% during the third quarter. NFJ Investment Group LLC now owns 12,302 shares of the company's stock worth $1,658,000 after purchasing an additional 1,933 shares during the period. Quantinno Capital Management LP lifted its position in shares of PDD by 381.3% during the 3rd quarter. Quantinno Capital Management LP now owns 30,411 shares of the company's stock worth $4,100,000 after buying an additional 24,092 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of PDD by 172.8% during the third quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock valued at $863,000 after acquiring an additional 4,054 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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PDD Trading Up 0.2 %

Shares of NASDAQ PDD traded up $0.17 during midday trading on Wednesday, reaching $94.15. The stock had a trading volume of 36,531,767 shares, compared to its average volume of 11,053,399. The company's 50 day moving average price is $117.42 and its 200 day moving average price is $114.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market cap of $129.54 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PDD. Jefferies Financial Group decreased their price target on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. JPMorgan Chase & Co. lifted their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Citigroup reiterated a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Finally, Nomura reaffirmed a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $169.91.

PDD Company 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.