52,012 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by GQG Partners LLC

GQG Partners LLC acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 52,012 shares of the company’s stock, valued at approximately $5,045,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of PDD by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock worth $2,779,986,000 after acquiring an additional 268,662 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in PDD during the fourth quarter valued at approximately $15,072,000. Sei Investments Co. lifted its stake in PDD by 16.0% during the fourth quarter. Sei Investments Co. now owns 273,168 shares of the company’s stock worth $26,494,000 after purchasing an additional 37,689 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of PDD by 7.3% in the 4th quarter. American Century Companies Inc. now owns 544,159 shares of the company’s stock valued at $52,778,000 after purchasing an additional 37,165 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. increased its stake in shares of PDD by 12.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 17,881 shares of the company’s stock valued at $1,734,000 after purchasing an additional 1,996 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Stock Up 1.2 %

Shares of NASDAQ:PDD opened at $128.12 on Tuesday. The firm has a market cap of $176.28 billion, a P/E ratio of 12.51, a P/E/G ratio of 0.32 and a beta of 0.69. 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 12-month low of $88.01 and a 12-month high of $164.69. The business has a fifty day simple moving average of $116.40 and a 200 day simple moving average of $113.63.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PDD shares. JPMorgan Chase & Co. upped their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a research note on Friday. Nomura restated a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group lowered their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

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.