Pacer Advisors Inc. Has $3.23 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Pacer Advisors Inc. lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 33,287 shares of the company’s stock after purchasing an additional 531 shares during the quarter. Pacer Advisors Inc.’s holdings in PDD were worth $3,229,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 increased 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 purchasing an additional 3,804,600 shares during the period. FMR LLC raised its holdings in 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 during the last quarter. Baillie Gifford & Co. lifted its position in PDD by 2.8% during the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock valued at $4,868,859,000 after purchasing an additional 988,042 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of PDD by 100.5% in the 3rd quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock valued at $559,000 after purchasing an additional 800,614 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Down 3.0 %

PDD opened at $111.91 on Friday. The stock has a market capitalization of $153.97 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.29 and a beta of 0.66. 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 12 month low of $88.01 and a 12 month high of $164.69. The firm’s fifty day simple moving average is $101.42 and its 200 day simple moving average is $115.54.

Analyst Ratings Changes

PDD has been the topic of several analyst reports. Jefferies Financial Group cut their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Benchmark reduced 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. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and cut their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.