4,012 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by Allianz SE

Allianz SE bought a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,012 shares of the company's stock, valued at approximately $379,000.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in PDD during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group increased its holdings in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after acquiring an additional 498 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after purchasing an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PDD shares. Nomura reissued a "neutral" rating and set a $130.00 target price (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Benchmark reiterated a "buy" rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, Citigroup restated a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

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PDD Stock Performance

Shares of NASDAQ:PDD traded up $3.84 on Tuesday, hitting $122.19. The company's stock had a trading volume of 7,064,924 shares, compared to its average volume of 10,677,627. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock's 50-day moving average is $118.77 and its two-hundred day moving average is $114.81. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $168.12 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

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.