230,700 Shares in PDD Holdings Inc. (NASDAQ:PDD) Bought by Panview Capital Ltd

Panview Capital Ltd bought a new position in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 230,700 shares of the company’s stock, valued at approximately $22,376,000. PDD accounts for about 4.8% of Panview Capital Ltd’s portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of PDD. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD during the third quarter worth approximately $29,000. Nisa Investment Advisors LLC bought a new stake in shares of PDD during the fourth quarter worth approximately $39,000. Brooklyn Investment Group raised its stake in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

PDD Price Performance

PDD opened at $131.34 on Friday. 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 $180.71 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.32 and a beta of 0.67. The firm’s fifty day moving average price is $107.12 and its two-hundred day moving average price is $114.08. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

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.