Global X Japan Co. Ltd. Purchases 33,907 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Global X Japan Co. Ltd. grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 21.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,389 shares of the company’s stock after acquiring an additional 33,907 shares during the quarter. PDD accounts for 2.3% of Global X Japan Co. Ltd.’s portfolio, making the stock its 14th biggest holding. Global X Japan Co. Ltd.’s holdings in PDD were worth $18,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in PDD during the third quarter valued at about $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD in the 3rd quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new position in PDD during the 3rd quarter valued at about $34,000. Nisa Investment Advisors LLC purchased a new stake in PDD in the fourth quarter worth $39,000. Finally, Brooklyn Investment Group grew its position in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Benchmark reduced their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their price target on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Up 2.3 %

PDD stock opened at $112.72 on Friday. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The business’s 50-day simple moving average is $102.27 and its 200-day simple moving average is $114.74. The firm has a market capitalization of $155.09 billion, a PE ratio of 11.01, a PEG ratio of 0.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.