US Bancorp DE Acquires 1,127 Shares of PDD Holdings Inc. (NASDAQ:PDD)

US Bancorp DE boosted its position in PDD Holdings Inc. (NASDAQ:PDD) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,079 shares of the company’s stock after purchasing an additional 1,127 shares during the period. US Bancorp DE’s holdings in PDD were worth $881,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PDD. Gordian Capital Singapore Pte Ltd increased its position in PDD by 1,218.9% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares during the period. Lord Abbett & CO. LLC raised its stake in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after buying an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new position in PDD during the third quarter worth $74,221,000. Headwater Capital Co Ltd bought a new stake in PDD during the fourth quarter valued at $9,699,000. Finally, Baillie Gifford & Co. grew its holdings in PDD by 5.4% during the 4th 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 during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

PDD Stock Up 0.1 %

Shares of NASDAQ PDD opened at $119.92 on Monday. The stock has a market capitalization of $164.99 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a 50-day moving average price of $110.66 and a 200-day moving average price of $112.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.