Y Intercept Hong Kong Ltd Invests $4.69 Million in PDD Holdings Inc. (NASDAQ:PDD)

Y Intercept Hong Kong Ltd purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 48,305 shares of the company’s stock, valued at approximately $4,685,000.

Several other institutional investors have also made changes to their positions in the stock. Baillie Gifford & Co. boosted its holdings in shares of PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. FMR LLC boosted its holdings in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Geode Capital Management LLC boosted its holdings in shares of PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after purchasing an additional 513,248 shares during the period. Finally, H&H International Investment LLC boosted its holdings in shares of 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 worth $526,784,000 after purchasing an additional 3,804,600 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of analyst reports. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group reduced their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Benchmark reduced their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Trading Up 5.6 %

Shares of PDD stock opened at $131.34 on Monday. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The firm’s fifty day simple moving average is $107.12 and its 200 day simple moving average is $113.94. The firm has a market capitalization of $180.71 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. 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 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.