Vanguard Group Inc. Grows Position in PDD Holdings Inc. (NASDAQ:PDD)

Vanguard Group Inc. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,662,609 shares of the company’s stock after acquiring an additional 268,662 shares during the period. Vanguard Group Inc. owned 2.08% of PDD worth $2,779,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PDD. KLP Kapitalforvaltning AS purchased a new position in shares of PDD during the fourth quarter valued at about $15,072,000. Sei Investments Co. increased its stake in PDD by 16.0% in the 4th quarter. Sei Investments Co. now owns 273,168 shares of the company’s stock worth $26,494,000 after acquiring an additional 37,689 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of PDD by 7.3% during the 4th quarter. American Century Companies Inc. now owns 544,159 shares of the company’s stock worth $52,778,000 after acquiring an additional 37,165 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of PDD by 12.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 17,881 shares of the company’s stock valued at $1,734,000 after acquiring an additional 1,996 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of PDD by 25.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,060 shares of the company’s stock valued at $879,000 after purchasing an additional 1,840 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 2.2 %

PDD stock opened at $125.25 on Wednesday. The company has a market capitalization of $172.33 billion, a PE ratio of 12.23, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The firm’s 50-day moving average is $116.94 and its 200 day moving average is $113.86.

Wall Street Analyst Weigh In

Several equities analysts have commented on PDD shares. Nomura reiterated a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price target on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Finally, Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.91.

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.