Aviva PLC boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 616,033 shares of the company's stock after buying an additional 7,088 shares during the quarter. Aviva PLC's holdings in PDD were worth $59,749,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of PDD. Jones Financial Companies Lllp grew its stake in PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after buying an additional 97 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of 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 acquiring an additional 132 shares during the period. New York Life Investment Management LLC grew its position in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after purchasing an additional 139 shares during the last quarter. Cibc World Markets Corp increased its stake in shares of PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after purchasing an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in PDD by 43.2% during the 4th 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.
PDD Price Performance
Shares of NASDAQ:PDD traded up $0.48 during trading on Friday, hitting $88.83. 11,054,580 shares of the company were exchanged, compared to its average volume of 11,123,644. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $164.69. The company has a market capitalization of $122.21 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The business's 50 day moving average is $117.08 and its 200-day moving average is $114.54.
Analyst Ratings Changes
Several research analysts have weighed in on PDD shares. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Jefferies Financial Group lowered their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Finally, Benchmark reissued a "buy" rating and set a $160.00 price target on shares of PDD in a research report 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.
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PDD Company Profile
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Free Report)
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.
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