Zurcher Kantonalbank Zurich Cantonalbank increased its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,638 shares of the company's stock after buying an additional 16,680 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in PDD were worth $36,918,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company's stock valued at $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. H&H International Investment LLC lifted its stake in shares of PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company's stock worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after buying an additional 1,942,891 shares in the last quarter. FMR LLC raised its holdings in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company's stock valued at $2,821,595,000 after buying an additional 1,654,764 shares during the period. Finally, Capital Today Evergreen Fund L.P. raised its holdings in shares of PDD by 60.1% during the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company's stock valued at $241,853,000 after buying an additional 935,854 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut shares of PDD from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Benchmark dropped their target price on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Finally, Dbs Bank downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $173.40.
Read Our Latest Analysis on PDD
PDD Stock Performance
Shares of PDD stock traded down $0.72 during trading hours on Wednesday, reaching $117.26. The stock had a trading volume of 3,558,182 shares, compared to its average volume of 8,586,687. The firm has a market capitalization of $161.33 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The firm has a 50-day simple moving average of $111.50 and a 200-day simple moving average of $111.71. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.
About PDD
(
Free Report)
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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