PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by 3G Capital Partners LP

3G Capital Partners LP grew its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 425,000 shares of the company's stock after purchasing an additional 50,000 shares during the period. PDD comprises approximately 11.8% of 3G Capital Partners LP's investment portfolio, making the stock its 2nd largest holding. 3G Capital Partners LP's holdings in PDD were worth $41,221,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in PDD in the 4th quarter valued at $812,246,000. Sanders Capital LLC purchased a new stake in PDD during the 4th quarter valued at about $499,972,000. FMR LLC raised its holdings in 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 acquiring an additional 4,673,022 shares during the last quarter. FIL Ltd boosted its holdings in shares of PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the last quarter. Finally, Capital International Investors acquired a new position in shares of PDD during the 4th quarter worth approximately $246,823,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 0.4 %

Shares of PDD traded up $0.47 during midday trading on Tuesday, hitting $111.32. The company had a trading volume of 4,315,423 shares, compared to its average volume of 11,130,477. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69. The firm has a market capitalization of $153.16 billion, a P/E ratio of 10.87, a P/E/G 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. The company's 50-day simple moving average is $110.26 and its 200-day simple moving average is $109.86.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PDD shares. Citigroup reissued a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group lowered their price objective 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 Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Nomura reiterated a "neutral" rating and set a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $169.91.

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.