Janus Henderson Group PLC Increases Position in PDD Holdings Inc. (NASDAQ:PDD)

Janus Henderson Group PLC raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 357.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 455,266 shares of the company's stock after buying an additional 355,712 shares during the period. Janus Henderson Group PLC's holdings in PDD were worth $44,157,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Norges Bank bought a new stake in shares of PDD during the fourth quarter valued at approximately $812,246,000. Sanders Capital LLC bought a new stake in shares of PDD during the fourth quarter valued at approximately $499,972,000. FMR LLC raised its stake in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares in the last quarter. FIL Ltd raised its stake in shares of PDD by 72.4% during the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after acquiring an additional 3,350,627 shares in the last quarter. Finally, Capital International Investors bought a new stake in shares of PDD during the fourth quarter valued at approximately $246,823,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PDD shares. Citigroup raised shares of 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 note on Monday, May 12th. Jefferies Financial Group decreased their price target on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company 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. Nomura reissued a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Four 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $174.00.

PDD Stock Down 0.2%

Shares of PDD stock traded down $0.23 during trading hours on Friday, reaching $117.61. 4,345,160 shares of the company's stock were exchanged, compared to its average volume of 11,176,082. The stock's 50 day moving average is $109.83 and its 200-day moving average is $109.45. The company has a market cap of $161.82 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.32 and a beta of 0.57. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $164.69.

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.