Union Bancaire Privee UBP SA Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Union Bancaire Privee UBP SA purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, Holdings Channel.com reports. The fund purchased 14,502 shares of the company’s stock, valued at approximately $1,343,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. H&H International Investment LLC grew its holdings in PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after acquiring an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. grew its holdings in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares in the last quarter. FMR LLC grew its holdings in PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. grew its holdings in PDD by 60.1% during the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock worth $241,853,000 after acquiring an additional 935,854 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PDD shares. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Benchmark decreased their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group decreased their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Trading Up 5.6 %

PDD stock opened at $131.34 on Monday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The firm has a market capitalization of $180.71 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.32 and a beta of 0.67. The firm has a 50-day moving average price of $107.12 and a two-hundred day moving average price of $113.94. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.