PDD Holdings Inc. (NASDAQ:PDD) is IvyRock Asset Management HK Ltd’s Largest Position

IvyRock Asset Management HK Ltd boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 930,336 shares of the company’s stock after acquiring an additional 91,800 shares during the period. PDD accounts for about 39.8% of IvyRock Asset Management HK Ltd’s portfolio, making the stock its largest holding. IvyRock Asset Management HK Ltd’s holdings in PDD were worth $90,233,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of PDD by 1,374.3% in 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 valued at $1,772,106,000 after buying an additional 12,253,589 shares during the period. H&H International Investment LLC raised its position in PDD by 3,693.8% in 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. lifted its holdings in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. FMR LLC boosted its position in shares of 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 purchasing an additional 1,654,764 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. grew its stake in shares of 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 purchasing an additional 935,854 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on PDD shares. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group decreased their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of PDD in a report on Friday. JPMorgan Chase & Co. lifted their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Nomura reissued a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

PDD stock opened at $128.12 on Tuesday. The stock has a fifty day moving average price of $116.40 and a 200 day moving average price of $113.63. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. 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 $176.28 billion, a P/E ratio of 12.51, a PEG ratio of 0.32 and a beta of 0.69.

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.