Pacer Advisors Inc. Purchases 531 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Pacer Advisors Inc. raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,287 shares of the company’s stock after acquiring an additional 531 shares during the period. Pacer Advisors Inc.’s holdings in PDD were worth $3,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 purchasing an additional 12,253,589 shares during the period. H&H International Investment LLC boosted its position in shares of PDD by 3,693.8% in the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after acquiring an additional 3,804,600 shares during the period. FMR LLC grew its stake in shares of PDD by 8.6% in the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares during the last quarter. Baillie Gifford & Co. increased its position in PDD by 2.8% during the third quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock worth $4,868,859,000 after acquiring an additional 988,042 shares during the period. Finally, HighTower Advisors LLC raised its stake in PDD by 100.5% during the 3rd quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock valued at $559,000 after purchasing an additional 800,614 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

NASDAQ:PDD opened at $111.91 on Friday. The stock has a market capitalization of $153.97 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 0.29 and a beta of 0.66. The company has a current ratio of 2.15, a quick 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 firm has a 50 day moving average of $101.42 and a 200-day moving average of $115.54.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PDD. Benchmark dropped their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group cut their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus 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.