Mitsubishi UFJ Asset Management Co. Ltd. Buys 25,802 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 643,791 shares of the company’s stock after purchasing an additional 25,802 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in PDD were worth $62,332,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PDD. Leading Securities Co Ltd bought a new stake in shares of PDD during the 4th quarter worth approximately $13,517,000. Financial Counselors Inc. raised its position in PDD by 17.5% during the fourth quarter. Financial Counselors Inc. now owns 2,306 shares of the company’s stock valued at $224,000 after purchasing an additional 344 shares in the last quarter. IvyRock Asset Management HK Ltd lifted its stake in PDD by 10.9% during the fourth quarter. IvyRock Asset Management HK Ltd now owns 930,336 shares of the company’s stock worth $90,233,000 after purchasing an additional 91,800 shares during the last quarter. AI Squared Management Ltd boosted its holdings in shares of PDD by 218.5% in the 4th quarter. AI Squared Management Ltd now owns 115,300 shares of the company’s stock valued at $11,183,000 after purchasing an additional 79,100 shares in the last quarter. Finally, GQG Partners LLC bought a new position in shares of PDD in the 4th quarter valued at $5,045,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on PDD shares. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Jefferies Financial Group lowered their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. raised their target price 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, Citigroup reiterated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Down 3.1 %

Shares of PDD opened at $120.45 on Friday. The company has a market capitalization of $165.72 billion, a PE ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69. The stock’s 50-day moving average price is $118.16 and its two-hundred day moving average price is $114.18. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

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.