Yarbrough Capital LLC Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Yarbrough Capital LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,025 shares of the company's stock, valued at approximately $1,942,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new position in PDD in the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new position in shares of PDD in the 3rd quarter valued at $29,000. Richardson Financial Services Inc. lifted its holdings 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 worth $32,000 after acquiring an additional 233 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of PDD during the 3rd quarter valued at about $34,000. Finally, Carolina Wealth Advisors LLC bought a new stake in PDD in the third quarter valued at about $66,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Price Performance

PDD traded up $5.15 during midday trading on Friday, hitting $105.41. The company had a trading volume of 9,144,433 shares, compared to its average volume of 6,918,816. 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 quick ratio of 2.15 and a current ratio of 2.15. The firm's 50-day simple moving average is $103.13 and its 200-day simple moving average is $117.64. The company has a market capitalization of $145.03 billion, a PE ratio of 10.29, a P/E/G ratio of 0.25 and a beta of 0.66.

Analyst Ratings Changes

A number of research analysts have commented on PDD shares. JPMorgan Chase & Co. cut shares of PDD from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Macquarie raised PDD from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group reduced their target price 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. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.