111 Capital Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

111 Capital bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,236 shares of the company's stock, valued at approximately $508,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after buying an additional 1,942,891 shares during the last quarter. Vanguard Group Inc. increased its holdings in PDD by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock worth $2,779,986,000 after buying an additional 268,662 shares during the last quarter. FMR LLC increased its holdings in PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after buying an additional 4,673,022 shares during the last quarter. Norges Bank acquired a new position in PDD during the fourth quarter worth $812,246,000. Finally, FIL Ltd increased its holdings in PDD by 72.4% during the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after buying an additional 3,350,627 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Benchmark decreased their price objective on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday. Jefferies Financial Group set a $121.00 price target on shares of PDD and gave the company a "buy" rating in a research note on Tuesday. China Renaissance restated a "hold" rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 target price on shares of PDD in a research note on Wednesday. Finally, Citigroup raised PDD from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.55.

PDD Price Performance

Shares of NASDAQ:PDD traded down $1.56 during trading on Friday, reaching $96.73. 17,167,316 shares of the company traded hands, compared to its average volume of 11,094,873. The company's 50 day moving average is $106.92 and its two-hundred day moving average is $108.79. The firm has a market capitalization of $134.66 billion, a PE ratio of 9.45, a PEG ratio of 0.32 and a beta of 0.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $155.67.

PDD Company 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.