Banco Santander S.A. Purchases 6,727 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Banco Santander S.A. grew its position in PDD Holdings Inc. (NASDAQ:PDD) by 61.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,591 shares of the company’s stock after buying an additional 6,727 shares during the quarter. Banco Santander S.A.’s holdings in PDD were worth $1,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in PDD by 1,374.3% during the third 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 raised its holdings in PDD by 3,693.8% during the third 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. raised its holdings in PDD by 5.4% during the fourth 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 increased its position in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after buying an additional 1,654,764 shares during the last quarter. Finally, Capital Today Evergreen Fund L.P. increased its position in PDD by 60.1% during the fourth quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock worth $241,853,000 after buying an additional 935,854 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $119.92 on Monday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock’s 50 day moving average is $110.66 and its 200-day moving average is $112.09. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $164.99 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.32 and a beta of 0.69.

Wall Street Analyst Weigh In

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

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.