Vinva Investment Management Ltd Raises Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Vinva Investment Management Ltd boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 65.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,971 shares of the company’s stock after purchasing an additional 1,174 shares during the quarter. Vinva Investment Management Ltd’s holdings in PDD were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its stake in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. FMR LLC increased its stake in PDD by 8.6% in the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PDD by 1,374.3% in 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 valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. Appaloosa LP increased its stake in PDD by 1.0% in the fourth quarter. Appaloosa LP now owns 5,356,132 shares of the company’s stock valued at $519,491,000 after purchasing an additional 55,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in PDD by 12.3% in the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock valued at $627,104,000 after purchasing an additional 513,248 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

PDD stock opened at $126.64 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The firm has a market cap of $174.24 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The stock has a 50-day simple moving average of $115.75 and a 200-day simple moving average of $113.13.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PDD shares. Nomura reiterated a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday. Benchmark restated a “buy” rating and set a $160.00 price target on shares of PDD in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday. Four equities 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $169.91.

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.