Leading Securities Co Ltd Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Leading Securities Co Ltd acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,370 shares of the company’s stock, valued at approximately $13,517,000. PDD accounts for about 43.9% of Leading Securities Co Ltd’s investment portfolio, making the stock its 2nd biggest position.

A number of other hedge funds also recently modified their holdings of PDD. Gordian Capital Singapore Pte Ltd raised its holdings in 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 acquiring an additional 6,460 shares during the period. Lord Abbett & CO. LLC grew 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 last quarter. Maple Rock Capital Partners Inc. bought a new position in shares of PDD during the third quarter worth approximately $74,221,000. Headwater Capital Co Ltd acquired a new stake in PDD during the 4th quarter worth approximately $9,699,000. Finally, Baillie Gifford & Co. boosted its stake in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ:PDD opened at $122.47 on Thursday. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $117.38 and its 200 day simple moving average is $113.92. The firm has a market capitalization of $168.50 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group cut their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Nomura reiterated a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five equities 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.