Janus Henderson Group PLC Raises Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Janus Henderson Group PLC grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 357.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 455,266 shares of the company’s stock after acquiring an additional 355,712 shares during the quarter. Janus Henderson Group PLC’s holdings in PDD were worth $44,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. FMR LLC lifted its position in shares of 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 in the last quarter. Norges Bank purchased a new stake in shares of PDD in the fourth quarter valued at $812,246,000. Finally, FIL Ltd lifted its position in shares of 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 in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report 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 note on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Jefferies Financial Group dropped their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, nine 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 $174.00.

PDD Stock Performance

PDD stock opened at $119.45 on Wednesday. The stock’s 50-day moving average is $109.82 and its 200-day moving average is $109.49. The company has a market cap of $164.35 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $164.69.

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.