Headlands Technologies LLC Makes New $1.54 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Headlands Technologies LLC bought a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,906 shares of the company’s stock, valued at approximately $1,543,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of PDD during the 4th quarter worth $812,246,000. H&H International Investment LLC grew its holdings in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the period. Baillie Gifford & Co. increased its position in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after buying an additional 1,942,891 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PDD by 23.7% in the fourth quarter. Geode Capital Management LLC now owns 5,794,895 shares of the company’s stock valued at $559,482,000 after buying an additional 1,108,390 shares during the period. Finally, Capital Today Evergreen Fund L.P. grew its stake in shares of PDD by 60.1% during the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock worth $241,853,000 after acquiring an additional 935,854 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PDD shares. Jefferies Financial Group cut their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Nomura reissued a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Five equities research 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Up 3.2 %

Shares of NASDAQ PDD opened at $122.19 on Wednesday. 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 one year low of $88.01 and a one year high of $164.69. The firm’s 50 day simple moving average is $118.77 and its two-hundred day simple moving average is $114.81. The stock has a market capitalization of $168.12 billion, a P/E ratio of 11.93, a PEG ratio of 0.32 and a beta of 0.69.

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.