Yarbrough Capital LLC Increases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Yarbrough Capital LLC increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 114.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,881 shares of the company's stock after buying an additional 22,856 shares during the period. Yarbrough Capital LLC's holdings in PDD were worth $5,075,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of PDD by 56.3% during the 4th quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock valued at $91,898,000 after buying an additional 341,300 shares during the last quarter. Baillie Gifford & Co. boosted its stake in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in PDD during the 4th quarter valued at $4,685,000. Alberta Investment Management Corp increased its position in shares of PDD by 12.6% in the 4th quarter. Alberta Investment Management Corp now owns 190,060 shares of the company's stock worth $18,434,000 after purchasing an additional 21,302 shares during the last quarter. Finally, FMR LLC raised its stake in shares of PDD by 22.3% in the 4th 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. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research reports. Macquarie reiterated an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Benchmark decreased their target price on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and issued a $107.00 price objective on shares of PDD in a report on Wednesday, May 28th. Finally, Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and increased their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.

PDD Price Performance

Shares of PDD opened at $100.60 on Friday. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $155.67. The stock's fifty day moving average is $104.65 and its 200-day moving average is $108.18. 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 has a market capitalization of $140.05 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.32 and a beta of 0.42.

PDD 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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