Wasatch Advisors LP Has $36.17 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Wasatch Advisors LP grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 22.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 372,901 shares of the company's stock after purchasing an additional 69,572 shares during the quarter. Wasatch Advisors LP's holdings in PDD were worth $36,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC raised its holdings in PDD by 115.6% during the fourth quarter. NewEdge Advisors LLC now owns 14,672 shares of the company's stock valued at $1,423,000 after buying an additional 7,868 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of PDD by 0.3% in the 4th quarter. Guggenheim Capital LLC now owns 159,400 shares of the company's stock valued at $15,460,000 after acquiring an additional 535 shares in the last quarter. AlpInvest Partners B.V. raised its stake in shares of PDD by 22.5% in the 4th quarter. AlpInvest Partners B.V. now owns 218,050 shares of the company's stock valued at $21,149,000 after acquiring an additional 39,982 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in PDD in the 4th quarter worth approximately $6,896,000. Finally, Comgest Global Investors S.A.S. boosted its position in PDD by 32.3% during the fourth quarter. Comgest Global Investors S.A.S. now owns 42,688 shares of the company's stock worth $4,140,000 after purchasing an additional 10,429 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Performance

PDD stock traded up $1.34 on Friday, hitting $93.69. The company's stock had a trading volume of 10,674,242 shares, compared to its average volume of 11,327,470. The company has a fifty day moving average price of $114.56 and a 200-day moving average price of $112.79. The firm has a market cap of $128.91 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PDD shares. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Finally, Jefferies Financial Group decreased their target price on PDD from $171.00 to $156.00 and set a "buy" rating for the company 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

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.