PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,825 shares of the company’s stock after purchasing an additional 264 shares during the period. Johnson Investment Counsel Inc.’s holdings in PDD were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. H&H International Investment LLC lifted its stake in PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after acquiring an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. lifted its stake in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares in the last quarter. FMR LLC lifted its stake in PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. lifted its stake in PDD by 60.1% during the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock worth $241,853,000 after acquiring an additional 935,854 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

PDD Price Performance

Shares of NASDAQ PDD opened at $117.86 on Thursday. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a market cap of $162.16 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock’s 50-day moving average is $111.92 and its two-hundred day moving average is $111.76.

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.