Capital International Inc. CA Invests $7.44 Million in PDD Holdings Inc. (NASDAQ:PDD)

Capital International Inc. CA purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, Holdings Channel reports. The fund purchased 76,729 shares of the company’s stock, valued at approximately $7,442,000.

A number of other institutional investors also recently bought and sold shares of the stock. Baillie Gifford & Co. grew its stake 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 valued at $3,691,376,000 after buying an additional 1,942,891 shares during the last quarter. Vanguard Group Inc. grew its position in PDD by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after acquiring an additional 268,662 shares during the last quarter. FMR LLC lifted its position in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares during the last quarter. Norges Bank purchased a new stake in shares of PDD during the fourth quarter valued at $812,246,000. Finally, FIL Ltd grew its holdings in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Up 1.5 %

Shares of PDD stock opened at $93.69 on Friday. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $164.69. The stock has a market cap of $128.91 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.32 and a beta of 0.73. The stock’s 50 day simple moving average is $114.56 and its 200-day simple moving average is $112.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group dropped their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Nomura reaffirmed a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.