Fred Alger Management LLC bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 234,162 shares of the company’s stock, valued at approximately $14,654,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Neuberger Berman Group LLC bought a new stake in shares of PDD in the 3rd quarter valued at $1,018,000. Alliancebernstein L.P. increased its position in shares of PDD by 16.3% in the 3rd quarter. Alliancebernstein L.P. now owns 73,316 shares of the company’s stock valued at $4,588,000 after buying an additional 10,276 shares in the last quarter. Colony Group LLC increased its position in shares of PDD by 10.5% in the 3rd quarter. Colony Group LLC now owns 13,827 shares of the company’s stock valued at $865,000 after buying an additional 1,310 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of PDD by 4.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 10,117 shares of the company’s stock valued at $633,000 after buying an additional 439 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of PDD by 3.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,448 shares of the company’s stock valued at $4,033,000 after buying an additional 1,955 shares in the last quarter. Institutional investors own 24.24% of the company’s stock.
PDD Price Performance
PDD stock opened at $92.73 on Wednesday. The firm has a 50-day moving average of $93.55 and a 200-day moving average of $77.76. PDD Holdings Inc. has a one year low of $23.21 and a one year high of $106.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.27 and a current ratio of 2.27.
Analyst Upgrades and Downgrades
PDD Company Profile
PDD Holdings, Inc is a commerce group that owns and operates a portfolio of businesses, including Pinduoduo, a social commerce platform in China with agriculture as one of its pillars, and Temu, an e-commerce marketplace in North America. The company aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from increased productivity and new opportunities.
- Get a free copy of the StockNews.com research report on PDD (PDD)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
Receive News & Ratings for PDD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDD and related companies with MarketBeat.com's FREE daily email newsletter.