Artisan Partners Limited Partnership Purchases 375,586 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Artisan Partners Limited Partnership increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 56.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,041,444 shares of the company’s stock after purchasing an additional 375,586 shares during the period. Artisan Partners Limited Partnership’s holdings in PDD were worth $101,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in PDD by 4.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 643,791 shares of the company’s stock valued at $62,332,000 after acquiring an additional 25,802 shares in the last quarter. Leading Securities Co Ltd bought a new stake in shares of PDD during the fourth quarter valued at approximately $13,517,000. Financial Counselors Inc. increased its holdings in shares of PDD by 17.5% in the fourth quarter. Financial Counselors Inc. now owns 2,306 shares of the company’s stock valued at $224,000 after purchasing an additional 344 shares in the last quarter. IvyRock Asset Management HK Ltd raised its position in PDD by 10.9% in the 4th quarter. IvyRock Asset Management HK Ltd now owns 930,336 shares of the company’s stock worth $90,233,000 after purchasing an additional 91,800 shares during the last quarter. Finally, AI Squared Management Ltd lifted its holdings in PDD by 218.5% during the 4th quarter. AI Squared Management Ltd now owns 115,300 shares of the company’s stock worth $11,183,000 after buying an additional 79,100 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of recent research reports. Benchmark restated a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. raised their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Finally, Nomura restated a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Price Performance

Shares of PDD stock opened at $124.36 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The firm has a fifty day moving average of $117.86 and a 200-day moving average of $113.99. The firm has a market capitalization of $171.10 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

About PDD

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.