National Pension Service Raises Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

National Pension Service grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,311 shares of the company’s stock after purchasing an additional 944 shares during the period. National Pension Service’s holdings in PDD were worth $17,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PDD. Prospera Private Wealth LLC purchased a new stake in shares of PDD during the third quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD during the third quarter worth approximately $29,000. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the fourth quarter worth approximately $39,000. Avior Wealth Management LLC increased its stake in shares of PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after buying an additional 169 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

PDD Price Performance

PDD stock opened at $113.69 on Friday. The company has a market capitalization of $156.42 billion, a P/E ratio of 11.10, a PEG ratio of 0.32 and a beta of 0.67. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The business has a 50 day simple moving average of $108.86 and a 200-day simple moving average of $113.35. 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.