5,236 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by 111 Capital

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

A number of other institutional investors also recently modified their holdings of PDD. Norges Bank bought a new position in shares of PDD in the fourth quarter valued at approximately $812,246,000. Sanders Capital LLC bought a new position in PDD during the fourth quarter worth $499,972,000. FMR LLC increased its position 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 acquiring an additional 4,673,022 shares during the period. FIL Ltd increased its position 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 acquiring an additional 3,350,627 shares during the period. Finally, Capital International Investors bought a new position in PDD during the fourth quarter worth $246,823,000. Institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of research reports. Benchmark dropped their target price on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Barclays reaffirmed an "equal weight" rating on shares of PDD in a research report on Sunday. JPMorgan Chase & Co. lowered their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $112.00 price target on shares of PDD in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average target price of $144.55.

PDD Price Performance

Shares of NASDAQ:PDD traded down $0.07 on Monday, hitting $96.44. The stock had a trading volume of 6,199,556 shares, compared to its average volume of 11,089,451. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $155.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm's 50 day moving average price is $106.40 and its 200-day moving average price is $108.61. The company has a market capitalization of $134.26 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57.

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.