Natixis Grows Stake in PDD Holdings Inc. (NASDAQ:PDD)

Natixis lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 401.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,336 shares of the company's stock after acquiring an additional 24,284 shares during the period. Natixis' holdings in PDD were worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its position in shares of PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after buying an additional 97 shares during the period. Farther Finance Advisors LLC boosted 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 acquiring an additional 132 shares in the last quarter. New York Life Investment Management LLC grew its holdings in PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock worth $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp increased its stake in PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after purchasing an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PDD. Jefferies Financial Group reduced their target price on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Nomura restated a "neutral" rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Finally, Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Stock Performance

Shares of PDD traded up $0.74 on Friday, reaching $104.01. 5,059,614 shares of the company's stock traded hands, compared to its average volume of 11,272,117. The stock's 50 day simple moving average is $112.72 and its two-hundred day simple moving average is $111.57. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week high of $164.69. The stock has a market cap of $143.10 billion, a PE ratio of 10.16, a PEG ratio of 0.32 and a beta of 0.73.

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.