71,104 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 71,104 shares of the company’s stock, valued at approximately $6,896,000.

A number of other institutional investors have also made changes to their positions in PDD. Norges Bank acquired a new stake in PDD during the 4th quarter worth approximately $812,246,000. Sanders Capital LLC acquired a new position in PDD in the 4th quarter worth $499,972,000. FMR LLC raised its stake in shares of PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. FIL Ltd boosted its position in shares of PDD by 72.4% during the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after buying an additional 3,350,627 shares during the period. Finally, Baillie Gifford & Co. grew 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 buying an additional 1,942,891 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock opened at $94.78 on Tuesday. The business has a 50-day simple moving average of $116.30 and a 200 day simple moving average of $113.99. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $130.41 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.32 and a beta of 0.73.

Analyst Ratings Changes

Several brokerages recently commented on PDD. Nomura restated a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group reduced their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Citigroup reissued a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.