Tidal Investments LLC Grows Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Tidal Investments LLC boosted its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 47.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,762 shares of the company's stock after buying an additional 33,589 shares during the quarter. Tidal Investments LLC's holdings in PDD were worth $10,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PDD. Norges Bank purchased a new stake in PDD in the fourth quarter worth $812,246,000. Sanders Capital LLC purchased a new position in shares of PDD in the fourth quarter valued at $499,972,000. FMR LLC grew its position in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares in the last quarter. FIL Ltd grew its position in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after purchasing an additional 3,350,627 shares in the last quarter. Finally, Capital International Investors purchased a new position in shares of PDD in the fourth quarter valued at $246,823,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Up 0.7%

Shares of PDD stock opened at $118.45 on Tuesday. 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 business has a 50-day moving average price of $109.84 and a two-hundred day moving average price of $109.27. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The firm has a market cap of $164.90 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PDD shares. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and lifted their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. JPMorgan Chase & Co. lifted their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Jefferies Financial Group reduced their price target on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Nomura reiterated a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average target price of $174.00.

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.

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