Comgest Global Investors S.A.S. Boosts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Comgest Global Investors S.A.S. increased its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,688 shares of the company's stock after purchasing an additional 10,429 shares during the quarter. Comgest Global Investors S.A.S.'s holdings in PDD were worth $4,140,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in PDD during the 4th quarter valued at about $39,000. Brooklyn Investment Group increased its stake in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after acquiring an additional 405 shares during the period. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after buying an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PDD shares. Citigroup reiterated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group dropped their price objective on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. 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 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 presently has an average rating of "Moderate Buy" and an average price target of $169.91.

PDD Price Performance

Shares of PDD traded up $1.34 during mid-day trading on Friday, reaching $93.69. 10,674,242 shares of the company's stock were exchanged, compared to its average volume of 11,295,157. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week 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 company has a 50-day simple moving average of $115.04 and a two-hundred day simple moving average of $113.42. The company has a market cap of $128.91 billion, a price-to-earnings ratio of 9.15, 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.