PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 309,285 shares of the company’s stock after purchasing an additional 34,390 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in PDD were worth $29,999,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in PDD during the 3rd quarter worth approximately $27,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the 4th quarter valued at approximately $39,000. Brooklyn Investment Group lifted its stake in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PDD shares. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group cut their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, Benchmark lowered 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. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Price Performance

Shares of PDD opened at $126.79 on Wednesday. The firm has a market capitalization of $174.45 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The stock’s fifty day moving average is $113.99 and its 200-day moving average is $112.70. 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 quick ratio of 2.15 and a current ratio of 2.15.

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.