APG Asset Management N.V. Raises Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

APG Asset Management N.V. increased its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 789,528 shares of the company's stock after purchasing an additional 109,400 shares during the quarter. APG Asset Management N.V. owned 0.06% of PDD worth $73,951,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PDD. Gordian Capital Singapore Pte Ltd grew its stake in shares of PDD by 1,218.9% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock valued at $942,000 after purchasing an additional 6,460 shares during the period. Lord Abbett & CO. LLC grew its position in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock valued at $5,155,000 after buying an additional 14,905 shares during the period. Headwater Capital Co Ltd bought a new position in PDD in the fourth quarter worth approximately $9,699,000. Baillie Gifford & Co. raised its position in PDD by 5.4% in the fourth 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 during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of PDD during the 4th quarter valued at $4,685,000. Institutional investors own 39.83% of the company's stock.

PDD Price Performance

NASDAQ PDD traded up $2.15 on Friday, reaching $90.50. The company had a trading volume of 21,093,347 shares, compared to its average volume of 11,188,670. The stock has a market capitalization of $124.52 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm's 50 day moving average price is $116.61 and its 200 day moving average price is $114.38.

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Wall Street Analyst Weigh In

A number of equities analysts recently commented on PDD shares. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group cut their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. 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 research note on Friday, March 21st. Finally, Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PDD has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Company 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.