Sei Investments Co. Grows Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Sei Investments Co. grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 16.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 273,168 shares of the company’s stock after purchasing an additional 37,689 shares during the quarter. Sei Investments Co.’s holdings in PDD were worth $26,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd lifted its holdings in PDD by 1,218.9% during the third 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 raised its position in shares of 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 purchasing an additional 14,905 shares during the period. Maple Rock Capital Partners Inc. bought a new stake in shares of PDD in the third quarter valued at approximately $74,221,000. Headwater Capital Co Ltd purchased a new stake in shares of PDD during the 4th quarter valued at approximately $9,699,000. Finally, Baillie Gifford & Co. boosted its holdings in PDD by 5.4% in 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 period. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD stock opened at $125.25 on Wednesday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm’s fifty day moving average price is $116.94 and its 200-day moving average price is $113.86. The stock has a market cap of $172.33 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analyst Ratings Changes

A number of brokerages have issued reports on PDD. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Nomura reissued a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.