Polar Capital Holdings Plc Increases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Polar Capital Holdings Plc grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,612 shares of the company’s stock after buying an additional 39,717 shares during the period. Polar Capital Holdings Plc’s holdings in PDD were worth $55,247,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new position in PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group boosted its holdings in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after buying an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after buying an additional 249 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PDD. Citigroup raised PDD from a “neutral” rating to a “buy” rating and upped their target price for the stock from $127.00 to $165.00 in a research note on Monday. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Nomura restated a “neutral” rating and set a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.00.

PDD Price Performance

Shares of PDD stock opened at $118.89 on Thursday. 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 fifty-two week low of $87.11 and a fifty-two week high of $164.69. The firm has a market cap of $163.58 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.32 and a beta of 0.57. The business’s 50 day moving average price is $109.80 and its 200-day moving average price is $109.55.

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.