PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 842.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,046,802 shares of the company's stock after buying an additional 935,741 shares during the period. Temasek Holdings Private Ltd owned 0.08% of PDD worth $101,529,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in PDD in the 4th quarter worth approximately $39,000. Brooklyn Investment Group raised its stake in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of PDD by 939.6% in the 4th 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 boosted its stake in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after purchasing an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

PDD has been the topic of a number of research reports. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $127.00 to $165.00 in a report on Monday, May 12th. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Finally, Nomura reiterated a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.00.

PDD Price Performance

Shares of PDD traded down $1.18 during trading hours on Wednesday, reaching $116.20. 4,791,207 shares of the company traded hands, compared to its average volume of 11,069,449. The stock has a fifty day simple moving average of $109.82 and a 200 day simple moving average of $109.33. 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 stock has a market capitalization of $161.77 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $164.69.

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.