Appaloosa LP Raises Position in PDD Holdings Inc. (NASDAQ:PDD)

Appaloosa LP grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,356,132 shares of the company’s stock after buying an additional 55,000 shares during the quarter. PDD makes up about 8.1% of Appaloosa LP’s investment portfolio, making the stock its 3rd biggest position. Appaloosa LP owned 0.39% of PDD worth $519,491,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake 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 buying an additional 1,942,891 shares during the last quarter. FMR LLC grew its stake in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock valued at $627,104,000 after purchasing an additional 513,248 shares during the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. grew its stake in shares of PDD by 2.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 4,635,519 shares of the company’s stock valued at $449,599,000 after purchasing an additional 117,733 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Trading Down 0.1 %

Shares of NASDAQ PDD opened at $117.86 on Thursday. The company’s 50 day simple moving average is $111.92 and its 200 day simple moving average is $111.76. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market capitalization of $162.16 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analyst Upgrades and Downgrades

PDD has been the topic of several research analyst reports. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark decreased their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut 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 research note 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 on the stock in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.