AQR Capital Management LLC Has $85.75 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

AQR Capital Management LLC raised its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 884,082 shares of the company's stock after purchasing an additional 35,036 shares during the period. AQR Capital Management LLC owned approximately 0.06% of PDD worth $85,747,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of 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 in the last quarter. New York Life Investment Management LLC raised its holdings in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock worth $245,000 after acquiring an additional 139 shares during the period. Cibc World Markets Corp raised its holdings in shares of PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after acquiring an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on PDD shares. Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Nomura restated a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Finally, Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Price Performance

PDD stock traded up $4.95 during midday trading on Friday, reaching $110.92. 9,141,885 shares of the stock were exchanged, compared to its average volume of 11,185,921. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $152.61 billion, a PE ratio of 10.83, a P/E/G ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $164.69. The company has a fifty day moving average price of $110.44 and a 200 day moving average price of $110.05.

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.