Vise Technologies Inc. Acquires 6,985 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Vise Technologies Inc. increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 304.4% during the fourth quarter, HoldingsChannel reports. The firm owned 9,280 shares of the company’s stock after buying an additional 6,985 shares during the period. Vise Technologies Inc.’s holdings in PDD were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Baillie Gifford & Co. lifted its holdings in shares of PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PDD by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after acquiring an additional 268,662 shares during the period. FMR LLC lifted its holdings in PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares during the period. Norges Bank bought a new position in PDD in the fourth quarter valued at about $812,246,000. Finally, FIL Ltd lifted its holdings in PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock valued at $773,847,000 after acquiring an additional 3,350,627 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Stock Down 0.5%

NASDAQ PDD opened at $119.24 on Friday. The stock’s 50-day moving average price is $109.36 and its 200-day moving average price is $109.26. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $160.00. The company has a market capitalization of $166.00 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57.

Analyst Ratings Changes

A number of research analysts have weighed in on PDD shares. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group lowered their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Citigroup raised PDD from a “neutral” rating to a “buy” rating and increased their target price for the company from $127.00 to $165.00 in a report on Monday, May 12th. Finally, Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PDD currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

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.