PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Howard Capital Management Inc.

Howard Capital Management Inc. increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,386 shares of the company’s stock after buying an additional 340 shares during the quarter. Howard Capital Management Inc.’s holdings in PDD were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Panview Capital Ltd acquired a new position in PDD during the 4th quarter valued at about $22,376,000. Handelsbanken Fonder AB boosted its stake in PDD by 3.0% in the 4th quarter. Handelsbanken Fonder AB now owns 373,216 shares of the company’s stock worth $36,198,000 after purchasing an additional 10,897 shares in the last quarter. Alberta Investment Management Corp boosted its stake in PDD by 12.6% in the 4th quarter. Alberta Investment Management Corp now owns 190,060 shares of the company’s stock worth $18,434,000 after purchasing an additional 21,302 shares in the last quarter. Global Retirement Partners LLC boosted its stake in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. boosted its stake in PDD by 60.1% in 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 purchasing an additional 935,854 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

PDD Price Performance

Shares of NASDAQ PDD opened at $131.34 on Monday. The stock has a market capitalization of $180.71 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.32 and a beta of 0.67. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The firm’s 50 day simple moving average is $107.12 and its 200-day simple moving average is $113.94. 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 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.