GF Fund Management CO. LTD. Acquires Shares of 1,324,803 PDD Holdings Inc. (NASDAQ:PDD)

GF Fund Management CO. LTD. purchased a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,324,803 shares of the company's stock, valued at approximately $128,493,000. PDD comprises about 2.8% of GF Fund Management CO. LTD.'s holdings, making the stock its 9th biggest position. GF Fund Management CO. LTD. owned 0.10% of PDD at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in PDD by 30.9% in 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 period. New York Life Investment Management LLC lifted its stake in PDD by 5.8% in 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 lifted its stake in PDD by 1.1% in 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% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after buying an additional 249 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

PDD stock traded up $1.10 during midday trading on Thursday, hitting $98.98. 11,699,567 shares of the company were exchanged, compared to its average volume of 11,057,221. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The business has a fifty day simple moving average of $108.09 and a two-hundred day simple moving average of $109.04. The firm has a market capitalization of $137.79 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PDD. Macquarie restated an "outperform" rating on shares of PDD in a report on Tuesday. Jefferies Financial Group set a $121.00 price objective on PDD and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday. Benchmark cut their price objective on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, China Renaissance reaffirmed a "hold" rating and set a $107.00 price objective on shares of PDD in a report on Wednesday. Six equities 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.55.

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.