PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,168 shares of the company's stock after buying an additional 37,689 shares during the quarter. Sei Investments Co.'s holdings in PDD were worth $26,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in PDD by 7.3% in the fourth quarter. American Century Companies Inc. now owns 544,159 shares of the company's stock worth $52,778,000 after acquiring an additional 37,165 shares in the last quarter. Northwest & Ethical Investments L.P. raised its position in shares of PDD by 12.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 17,881 shares of the company's stock valued at $1,734,000 after purchasing an additional 1,996 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in PDD by 25.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,060 shares of the company's stock worth $879,000 after purchasing an additional 1,840 shares in the last quarter. Contrarius Group Holdings Ltd purchased a new stake in PDD during the 4th quarter worth approximately $10,059,000. Finally, iA Global Asset Management Inc. increased its stake in PDD by 1.7% during the 4th quarter. iA Global Asset Management Inc. now owns 81,048 shares of the company's stock valued at $7,861,000 after purchasing an additional 1,393 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

PDD has been the subject of several research reports. Nomura reiterated a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group cut 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. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of PDD in a report on Friday, March 21st. Finally, Citigroup reiterated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $169.91.

PDD Stock Performance

PDD stock traded down $4.17 during midday trading on Friday, hitting $120.19. 4,025,719 shares of the stock traded hands, compared to its average volume of 10,663,755. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year 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. The stock's fifty day simple moving average is $117.86 and its 200-day simple moving average is $113.99. The firm has a market cap of $165.37 billion, a P/E ratio of 11.72, a PEG ratio of 0.32 and a beta of 0.69.

PDD 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.