H&H International Investment LLC Raises Holdings in PDD Holdings Inc. (NASDAQ:PDD)

H&H International Investment LLC increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 3,693.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,907,600 shares of the company’s stock after purchasing an additional 3,804,600 shares during the quarter. PDD makes up 3.2% of H&H International Investment LLC’s portfolio, making the stock its 5th biggest position. H&H International Investment LLC owned 0.28% of PDD worth $526,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC lifted its stake in PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after purchasing an additional 89 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of PDD by 4.6% in the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after buying an additional 120 shares during the period. Parallel Advisors LLC raised its stake in PDD by 5.3% in the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after buying an additional 122 shares in the last quarter. Legacy Capital Group California Inc. raised its holdings in PDD by 6.8% in the second quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after buying an additional 133 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in PDD by 6.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after acquiring an additional 166 shares during the period. 29.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PDD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Sanford C. Bernstein reduced their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Finally, Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. 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 stock. Based on data from MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Up 2.5 %

Shares of NASDAQ:PDD opened at $98.98 on Tuesday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a market cap of $136.18 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.28 and a beta of 0.67. The firm’s 50-day simple moving average is $123.25 and its 200-day simple moving average is $128.24. 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.