Ensign Peak Advisors Inc Grows Position in PDD Holdings Inc. (NASDAQ:PDD)

Ensign Peak Advisors Inc raised its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,400 shares of the company's stock after acquiring an additional 7,250 shares during the quarter. Ensign Peak Advisors Inc's holdings in PDD were worth $6,440,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PDD. Carolina Wealth Advisors LLC increased its holdings in shares of PDD by 347.1% during the fourth quarter. Carolina Wealth Advisors LLC now owns 2,173 shares of the company's stock worth $211,000 after purchasing an additional 1,687 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in PDD by 5.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,430 shares of the company's stock valued at $721,000 after buying an additional 400 shares in the last quarter. Sicart Associates LLC lifted its holdings in shares of PDD by 8.2% during the fourth quarter. Sicart Associates LLC now owns 10,116 shares of the company's stock worth $981,000 after purchasing an additional 767 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of PDD by 3.1% during the fourth quarter. Ritholtz Wealth Management now owns 13,894 shares of the company's stock worth $1,348,000 after purchasing an additional 414 shares during the period. Finally, Yarbrough Capital LLC acquired a new position in shares of PDD during the fourth quarter worth $1,942,000. 39.83% of the stock is owned by institutional investors.

PDD Trading Down 0.2%

Shares of NASDAQ:PDD traded down $0.23 on Friday, hitting $117.61. The company had a trading volume of 4,345,160 shares, compared to its average volume of 11,176,082. The firm's 50-day simple moving average is $109.83 and its two-hundred day simple moving average is $109.45. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year 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 firm has a market capitalization of $161.82 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.32 and a beta of 0.57.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PDD shares. Nomura reissued a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Benchmark restated a "buy" rating and set a $160.00 price target on shares of PDD in a report on Friday, March 21st. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.00.

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.