Generali Investments CEE investicni spolecnost a.s. Makes New $1.36 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,000 shares of the company's stock, valued at approximately $1,358,000.

A number of other large investors have also added to or reduced their stakes in PDD. Gordian Capital Singapore Pte Ltd lifted its stake in PDD by 1,218.9% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock worth $942,000 after purchasing an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock worth $5,155,000 after purchasing an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in PDD during the third quarter worth $74,221,000. Headwater Capital Co Ltd bought a new stake in PDD during the fourth quarter worth $9,699,000. Finally, Baillie Gifford & Co. lifted its stake in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Trading Up 0.1 %

NASDAQ PDD traded up $0.10 on Friday, reaching $119.92. The company had a trading volume of 5,707,663 shares, compared to its average volume of 8,768,604. The firm has a market cap of $164.99 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The business has a 50 day moving average of $110.66 and a two-hundred day moving average of $112.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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Wall Street Analyst Weigh In

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

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.