111,061 Shares in PDD Holdings Inc. (NASDAQ:PDD) Bought by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 111,061 shares of the company’s stock, valued at approximately $14,972,000.

Several other large investors have also recently added to or reduced their stakes in PDD. Prospera Private Wealth LLC bought a new stake in PDD in the third quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in PDD in the third quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD in the second quarter valued at $32,000. Richardson Financial Services Inc. lifted its stake in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after buying an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in PDD in the third quarter valued at $34,000. 29.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PDD shares. Barclays cut their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America cut their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Trading Up 0.3 %

Shares of PDD opened at $99.00 on Friday. The business’s 50-day moving average price is $121.96 and its 200 day moving average price is $127.19. The stock has a market capitalization of $136.21 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.28 and a beta of 0.66. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. 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 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.