Union Bancaire Privee UBP SA Takes $1.34 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Union Bancaire Privee UBP SA bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 14,502 shares of the company’s stock, valued at approximately $1,343,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in shares of PDD in the 3rd quarter worth $27,000. Venturi Wealth Management LLC acquired a new position in PDD during the third quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new stake in PDD in the third quarter worth about $34,000. Nisa Investment Advisors LLC bought a new stake in PDD in the fourth quarter worth about $39,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in PDD in the 3rd quarter valued at about $66,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

PDD stock opened at $110.88 on Tuesday. The firm has a 50 day simple moving average of $101.52 and a 200 day simple moving average of $115.98. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a market cap of $152.56 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group dropped 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. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Benchmark reduced their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Three equities research 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 company has an average rating of “Moderate Buy” and an average 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.