PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Barings LLC

Barings LLC raised its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 738,170 shares of the company’s stock after purchasing an additional 20,225 shares during the period. PDD accounts for about 1.7% of Barings LLC’s holdings, making the stock its 8th biggest position. Barings LLC’s holdings in PDD were worth $71,595,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC acquired a new stake in shares of PDD in the 3rd quarter valued at $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the 4th quarter valued at $39,000. Avior Wealth Management LLC lifted its stake in shares of PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $119.92 on Friday. The company has a market capitalization of $164.99 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company’s fifty day moving average price is $110.66 and its 200 day moving average price is $112.33.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PDD. Jefferies Financial Group reduced their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark reduced their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Three investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD 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.