Barings LLC Has $71.60 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Barings LLC increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,170 shares of the company’s stock after acquiring an additional 20,225 shares during the period. PDD makes up approximately 1.7% of Barings LLC’s investment portfolio, making the stock its 8th biggest position. Barings LLC owned approximately 0.05% of PDD worth $71,595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in shares of PDD in the third quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD in the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC bought a new position in shares of PDD in the fourth quarter valued at approximately $39,000. Avior Wealth Management LLC boosted its holdings in PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after buying an additional 169 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Up 0.1 %

PDD stock opened at $119.92 on Friday. The company has a 50 day moving average price of $110.66 and a 200 day moving average price of $112.33. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market capitalization of $164.99 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 0.32 and a beta of 0.69.

Wall Street Analyst Weigh In

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

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.