PDD Holdings Inc. (NASDAQ:PDD) Holdings Lifted by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 26.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,527,323 shares of the company's stock after buying an additional 322,629 shares during the period. PDD comprises 2.9% of Whale Rock Capital Management LLC's investment portfolio, making the stock its 12th largest position. Whale Rock Capital Management LLC owned 0.11% of PDD worth $205,898,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PDD. Prospera Private Wealth LLC purchased a new position in PDD in the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC acquired a new position in PDD in the third quarter worth about $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD in the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. raised its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after acquiring an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in PDD in the third quarter worth $34,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 1.4 %

Shares of NASDAQ PDD traded up $1.39 during mid-day trading on Friday, hitting $100.39. 4,665,373 shares of the company traded hands, compared to its average volume of 10,654,335. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a market capitalization of $138.12 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.28 and a beta of 0.66. The business has a 50 day moving average of $121.96 and a two-hundred day moving average of $127.19.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PDD. Citigroup downgraded shares of PDD from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Bank of America dropped their price target on shares of PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Finally, Benchmark decreased their target price on shares of PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.