PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,662,609 shares of the company's stock after acquiring an additional 268,662 shares during the period. Vanguard Group Inc. owned about 2.08% of PDD worth $2,779,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PDD. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the 4th quarter worth about $39,000. Brooklyn Investment Group raised its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC boosted its position in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after purchasing an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after buying an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

PDD Price Performance

Shares of PDD stock traded down $4.32 on Friday, hitting $120.05. 4,190,337 shares of the company were exchanged, compared to its average volume of 10,664,331. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $117.86 and a 200 day moving average price of $113.99. The stock has a market capitalization of $165.17 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PDD shares. Citigroup reiterated a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. 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 note on Friday, March 21st. Nomura restated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five 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 company's stock. According to data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average price target of $169.91.

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.