PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Fmr LLC

by · The Cerbat Gem

Fmr LLC lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 22.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,603,183 shares of the company’s stock after purchasing an additional 4,673,022 shares during the period. Fmr LLC’s holdings in PDD were worth $2,483,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PDD. Polymer Capital Management HK LTD grew its position in PDD by 11.1% in the fourth quarter. Polymer Capital Management HK LTD now owns 141,155 shares of the company’s stock valued at $13,691,000 after acquiring an additional 14,100 shares in the last quarter. Himension Capital Singapore PTE. LTD. grew its stake in PDD by 159.0% during the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 108,850 shares of the company’s stock worth $10,557,000 after buying an additional 66,819 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of PDD by 7.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,794 shares of the company’s stock valued at $756,000 after buying an additional 518 shares during the last quarter. Aviva PLC lifted its holdings in PDD by 1.2% in the fourth quarter. Aviva PLC now owns 616,033 shares of the company’s stock worth $59,749,000 after purchasing an additional 7,088 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new position in PDD during the 4th quarter valued at $16,411,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research analyst reports. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Nomura reiterated a “neutral” rating and set a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Finally, Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.91.

Get Our Latest Stock Report on PDD

PDD Stock Down 8.3 %

Shares of NASDAQ PDD opened at $104.21 on Friday. 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 12 month low of $88.01 and a 12 month high of $164.69. The firm has a market capitalization of $143.38 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The firm has a fifty day simple moving average of $119.14 and a two-hundred day simple moving average of $114.99.

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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