PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by HighVista Strategies LLC

HighVista Strategies LLC lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 213.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,078 shares of the company’s stock after acquiring an additional 5,500 shares during the period. HighVista Strategies LLC’s holdings in PDD were worth $1,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PDD by 1,374.3% in 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 buying an additional 12,253,589 shares during the period. Acadian Asset Management LLC grew its stake in shares of PDD by 107.8% in the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after purchasing an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd grew its stake in shares of PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after purchasing an additional 1,788,076 shares in the last quarter. FMR LLC grew its stake in shares of PDD by 8.6% in the third 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, Dragoneer Investment Group LLC grew its stake in shares of PDD by 142.6% in the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock worth $348,440,000 after purchasing an additional 1,540,346 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Stock Up 2.5 %

Shares of PDD stock opened at $98.98 on Tuesday. The stock has a 50-day moving average price of $123.25 and a 200 day moving average price of $128.24. The company has a market cap of $136.18 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.28 and a beta of 0.67. 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 1 year low of $88.01 and a 1 year high of $164.69.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PDD shares. Barclays decreased their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Nomura Securities raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Three 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 company. Based on data from MarketBeat.com, PDD currently 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.