PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 23.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,794,895 shares of the company’s stock after acquiring an additional 1,108,390 shares during the period. Geode Capital Management LLC owned approximately 0.42% of PDD worth $559,482,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group increased its holdings in PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC raised its position in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after acquiring an additional 498 shares during the last quarter. Farther Finance Advisors LLC raised its position in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after purchasing an additional 249 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark restated a “buy” rating and set a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Citigroup reissued a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Five investment 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Price Performance

PDD stock opened at $113.67 on Friday. The company has a market cap of $156.40 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.32 and a beta of 0.73. The firm has a 50 day moving average price of $119.28 and a 200 day moving average price of $114.83. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year 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.

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.