PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 309,285 shares of the company’s stock after purchasing an additional 34,390 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in PDD were worth $29,999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. OneDigital Investment Advisors LLC increased its position in PDD by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after purchasing an additional 166 shares during the last quarter. Prospera Financial Services Inc increased its holdings in shares of PDD by 27.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock worth $653,000 after buying an additional 1,033 shares during the last quarter. Banque Cantonale Vaudoise raised its position in shares of PDD by 36.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 35,318 shares of the company’s stock worth $4,762,000 after buying an additional 9,485 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in PDD in the third quarter valued at $5,657,000. Finally, West Family Investments Inc. grew its position in PDD by 7.1% during the third quarter. West Family Investments Inc. now owns 3,144 shares of the company’s stock valued at $424,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PDD shares. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark decreased their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Down 1.6 %

Shares of NASDAQ PDD opened at $126.79 on Wednesday. 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 stock’s 50-day simple moving average is $113.99 and its 200-day simple moving average is $112.70. The firm has a market cap of $174.45 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.32 and a beta of 0.69.

PDD Company 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.