PDD Holdings Inc. (NASDAQ:PDD) Position Increased by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 223.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,976 shares of the company's stock after buying an additional 32,474 shares during the quarter. Union Bancaire Privee UBP SA's holdings in PDD were worth $5,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PDD. Global Retirement Partners LLC lifted its position in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC increased its stake in 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 during the last quarter. EverSource Wealth Advisors LLC increased its stake in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the last quarter. Jones Financial Companies Lllp increased its stake in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after acquiring an additional 97 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in PDD during the fourth quarter worth about $165,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ:PDD traded down $2.83 during trading hours on Friday, reaching $100.60. 4,815,687 shares of the stock were exchanged, compared to its average volume of 11,057,286. 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 50 day simple moving average of $104.13 and a 200-day simple moving average of $108.16. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $155.67. The stock has a market capitalization of $140.05 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.32 and a beta of 0.42.

Analyst Upgrades and Downgrades

Several brokerages have commented on PDD. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PDD has an average rating of "Moderate Buy" and an average price target 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.