PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV raised its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,869 shares of the company's stock after acquiring an additional 8,438 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in PDD were worth $7,588,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PDD. Norges Bank acquired a new position in PDD in the fourth quarter valued at $812,246,000. Sanders Capital LLC purchased a new stake in PDD during the fourth quarter valued at about $499,972,000. FMR LLC grew its position in 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 during the period. FIL Ltd grew its position in 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 during the period. Finally, Capital International Investors purchased a new stake in PDD during the fourth quarter valued at about $246,823,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the subject of a number of research reports. Jefferies Financial Group lowered 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. Nomura reissued a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted 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. Citigroup raised PDD from a "neutral" rating to a "buy" rating and upped their target price for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. Finally, Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average price target of $174.00.

PDD Stock Up 0.7%

Shares of NASDAQ:PDD traded up $0.84 during trading on Monday, hitting $118.45. The company's stock had a trading volume of 5,275,846 shares, compared to its average volume of 11,133,104. The stock's 50-day moving average price is $109.83 and its two-hundred day moving average price is $109.29. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $164.69. The company has a market capitalization of $164.90 billion, a PE ratio of 11.57, a PEG ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.