Artisan Partners Limited Partnership Has $101.01 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Artisan Partners Limited Partnership increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 56.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,041,444 shares of the company’s stock after purchasing an additional 375,586 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.08% of PDD worth $101,010,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PDD. Jones Financial Companies Lllp lifted its position in shares of PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after purchasing an additional 97 shares during the last quarter. Farther Finance Advisors LLC increased its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after buying an additional 132 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after buying an additional 139 shares during the last quarter. Cibc World Markets Corp boosted its position in shares of PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after acquiring an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after acquiring an additional 249 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $124.36 on Friday. The firm has a market cap of $171.10 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.32 and a beta of 0.69. The stock’s fifty day simple moving average is $117.86 and its 200 day simple moving average is $113.99. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analyst Ratings Changes

PDD has been the subject of several research analyst reports. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Jefferies Financial Group cut their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PDD has an average rating of “Moderate Buy” and an average price target of $169.91.

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.