1,844 Shares in PDD Holdings Inc. (NASDAQ:PDD) Bought by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. purchased a new position in PDD Holdings Inc. (NASDAQ:PDD) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,844 shares of the company’s stock, valued at approximately $218,000.

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

Analyst Ratings Changes

PDD has been the subject of a number of analyst reports. Nomura restated a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup upgraded PDD from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. China Renaissance reiterated a “hold” rating and set a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their target price on PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Finally, Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.55.

PDD Stock Performance

Shares of PDD stock opened at $103.16 on Thursday. The firm has a market cap of $143.61 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.32 and a beta of 0.42. 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 $87.11 and a 12 month high of $155.67. The stock’s fifty day moving average price is $104.06 and its 200-day moving average price is $108.14.

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.