Greenwoods Asset Management Hong Kong Ltd. Buys 117,733 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Greenwoods Asset Management Hong Kong Ltd. raised its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,635,519 shares of the company’s stock after purchasing an additional 117,733 shares during the quarter. PDD accounts for 14.3% of Greenwoods Asset Management Hong Kong Ltd.’s portfolio, making the stock its 2nd largest holding. Greenwoods Asset Management Hong Kong Ltd. owned approximately 0.34% of PDD worth $449,599,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd boosted its holdings in PDD by 1,218.9% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after acquiring an additional 14,905 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new position in shares of PDD in the 3rd quarter worth approximately $74,221,000. M&G PLC boosted its holdings in shares of PDD by 14.2% in the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock worth $33,401,000 after acquiring an additional 30,817 shares in the last quarter. Finally, Headwater Capital Co Ltd acquired a new position in shares of PDD in the 4th quarter worth approximately $9,699,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PDD. Benchmark reduced their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Stock Performance

Shares of PDD stock opened at $119.82 on Friday. The firm has a fifty day moving average of $110.21 and a two-hundred day moving average of $112.76. The stock has a market capitalization of $164.86 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week 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.

About PDD

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.