Capital International Inc. CA Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Capital International Inc. CA acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 76,729 shares of the company’s stock, valued at approximately $7,442,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in PDD during the 4th quarter valued at $812,246,000. Sanders Capital LLC purchased a new stake in PDD during the fourth quarter valued at $499,972,000. 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. FIL Ltd boosted 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 purchasing an additional 3,350,627 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of PDD during the 4th quarter valued at about $246,823,000. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PDD. Nomura reissued a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group dropped their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Citigroup reissued a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Price Performance

Shares of PDD stock opened at $93.69 on Friday. The firm has a market cap of $128.91 billion, a PE ratio of 9.15, a PEG ratio of 0.32 and a beta of 0.73. The stock has a 50 day moving average of $114.56 and a 200 day moving average of $112.79. 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 $164.69.

PDD 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.