PDD Holdings Inc. (NASDAQ:PDD) Stock Position Raised by HighVista Strategies LLC

HighVista Strategies LLC raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 213.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,078 shares of the company’s stock after purchasing an additional 5,500 shares during the period. HighVista Strategies LLC’s holdings in PDD were worth $1,089,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in shares of PDD during the 1st quarter valued at about $3,987,000. Cetera Advisors LLC increased its holdings in shares of PDD by 81.4% during the 1st quarter. Cetera Advisors LLC now owns 27,778 shares of the company’s stock valued at $3,229,000 after acquiring an additional 12,463 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of PDD by 63.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 699 shares of the company’s stock valued at $88,000 after acquiring an additional 272 shares during the last quarter. Mather Group LLC. increased its holdings in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of PDD during the 2nd quarter valued at about $1,103,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $98.98 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $136.18 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.28 and a beta of 0.67. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The business has a 50 day simple moving average of $123.25 and a 200 day simple moving average of $128.24.

Wall Street Analyst Weigh In

PDD has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Sanford C. Bernstein lowered their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

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.