Panview Capital Ltd Acquires New Stake in PDD Holdings Inc. (NASDAQ:PDD)

by · The Markets Daily

Panview Capital Ltd bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 230,700 shares of the company’s stock, valued at approximately $22,376,000. PDD makes up about 4.8% of Panview Capital Ltd’s holdings, making the stock its 7th largest holding.

A number of other large investors have also recently added to or reduced their stakes in PDD. Allspring Global Investments Holdings LLC boosted its holdings in PDD by 11.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the company’s stock worth $2,136,000 after buying an additional 1,623 shares in the last quarter. International Assets Investment Management LLC bought a new stake in PDD during the third quarter worth approximately $65,535,000. Hennion & Walsh Asset Management Inc. boosted its holdings in PDD by 11.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 7,030 shares of the company’s stock worth $948,000 after buying an additional 731 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in PDD by 2.7% during the third quarter. IFM Investors Pty Ltd now owns 35,898 shares of the company’s stock worth $4,839,000 after buying an additional 947 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in PDD by 11.9% during the third quarter. Ballentine Partners LLC now owns 3,022 shares of the company’s stock worth $407,000 after buying an additional 321 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PDD shares. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Benchmark cut their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

Get Our Latest Research Report on PDD

PDD Stock Up 5.6 %

PDD stock opened at $131.34 on Friday. The company has a market capitalization of $180.71 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.32 and a beta of 0.67. The firm’s fifty day simple moving average is $107.12 and its 200-day simple moving average is $114.08. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

PDD Profile

(Free Report)

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.

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