Investmentaktiengesellschaft Fuer Langfristige Investoren TGV Grows Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 4.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 230,000 shares of the company's stock after purchasing an additional 10,000 shares during the period. PDD accounts for about 1.6% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV's portfolio, making the stock its 11th largest position. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV's holdings in PDD were worth $21,710,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Howard Capital Management Inc. raised its position in shares of PDD by 2.4% in the 4th quarter. Howard Capital Management Inc. now owns 14,386 shares of the company's stock worth $1,395,000 after acquiring an additional 340 shares in the last quarter. Panview Capital Ltd purchased a new position in PDD in the fourth quarter valued at about $22,376,000. Handelsbanken Fonder AB raised its holdings in PDD by 3.0% in the fourth quarter. Handelsbanken Fonder AB now owns 373,216 shares of the company's stock worth $36,198,000 after purchasing an additional 10,897 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of PDD by 12.6% during the fourth quarter. Alberta Investment Management Corp now owns 190,060 shares of the company's stock valued at $18,434,000 after buying an additional 21,302 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

PDD has been the subject of several recent analyst reports. Benchmark reduced their price objective on shares of PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group decreased their price objective on PDD from $181.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, November 21st. Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded PDD from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Three 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 company. Based on data from MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and an average price target of $173.40.

PDD Stock Performance

Shares of PDD stock traded up $0.60 on Wednesday, reaching $119.77. 8,791,984 shares of the stock were exchanged, compared to its average volume of 9,007,920. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The business has a 50 day moving average price of $107.86 and a two-hundred day moving average price of $113.68. 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 has a market capitalization of $164.79 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.66.

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.