Sava Infond d.o.o. Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Sava Infond d.o.o. purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the company's stock, valued at approximately $582,000.

Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in shares of PDD by 39.9% during the third quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company's stock worth $559,000 after purchasing an additional 1,184 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of PDD during the 3rd quarter worth about $678,000. Townsquare Capital LLC boosted its holdings in PDD by 51.7% in the 3rd quarter. Townsquare Capital LLC now owns 3,810 shares of the company's stock valued at $514,000 after purchasing an additional 1,298 shares during the period. BNP Paribas acquired a new stake in PDD in the 3rd quarter worth $475,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PDD by 6.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 363,958 shares of the company's stock worth $49,065,000 after purchasing an additional 21,348 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Trading Up 3.1 %

PDD stock traded up $3.68 during midday trading on Tuesday, reaching $122.03. The company's stock had a trading volume of 2,589,172 shares, compared to its average volume of 10,643,025. PDD Holdings Inc. has a 52 week low of $88.01 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 stock has a market cap of $167.90 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The business's 50-day simple moving average is $118.41 and its 200-day simple moving average is $114.61.

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Analyst Ratings Changes

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

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.