WCM Investment Management LLC Acquires 11,062 Shares of PDD Holdings Inc. (NASDAQ:PDD)

WCM Investment Management LLC raised its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 657.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,745 shares of the company's stock after purchasing an additional 11,062 shares during the quarter. WCM Investment Management LLC's holdings in PDD were worth $1,203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC acquired a new stake in shares of PDD in the 3rd quarter valued at $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the fourth quarter worth $39,000. Carolina Wealth Advisors LLC acquired a new stake in shares of PDD during the third quarter worth $66,000. Finally, Avior Wealth Management LLC increased its holdings in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after purchasing an additional 169 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Up 2.2 %

NASDAQ PDD traded up $2.62 during trading hours on Friday, reaching $124.16. 11,807,365 shares of the company's stock were exchanged, compared to its average volume of 8,210,958. The company's 50-day moving average is $104.48 and its two-hundred day moving average is $114.23. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. 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 has a market capitalization of $170.83 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PDD shares. Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group reduced their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $173.40.

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.