PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,304 shares of the company’s stock after buying an additional 1,241 shares during the quarter. Corient Private Wealth LLC’s holdings in PDD were worth $805,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PDD. Gordian Capital Singapore Pte Ltd increased its position in shares of PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after buying an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new position in PDD in the third quarter valued at $74,221,000. Headwater Capital Co Ltd acquired a new stake in PDD in the fourth quarter valued at $9,699,000. Finally, Baillie Gifford & Co. lifted its holdings in PDD by 5.4% during the 4th 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 during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ:PDD opened at $124.36 on Friday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The stock has a market capitalization of $171.10 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.32 and a beta of 0.69. The company has a 50-day simple moving average of $117.86 and a 200-day simple moving average of $113.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Nomura restated a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note 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 stock. According to MarketBeat.com, PDD has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Profile

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.