Asset Management One Co. Ltd. Has $15.47 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Asset Management One Co. Ltd. raised its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 11.5% in the fourth quarter, Holdings Channel reports. The fund owned 158,720 shares of the company’s stock after acquiring an additional 16,411 shares during the period. Asset Management One Co. Ltd.’s holdings in PDD were worth $15,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Stanley Laman Group Ltd. acquired a new position in shares of PDD during the fourth quarter worth about $194,000. Allspring Global Investments Holdings LLC boosted its position in shares of PDD by 236.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 53,264 shares of the company’s stock worth $5,161,000 after buying an additional 37,421 shares during the period. Lester Murray Antman dba SimplyRich acquired a new position in shares of PDD during the fourth quarter worth about $253,000. Focus Financial Network Inc. acquired a new position in shares of PDD during the fourth quarter worth about $208,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of PDD during the fourth quarter worth about $126,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Price Performance

NASDAQ:PDD opened at $124.16 on Friday. 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’s 50 day moving average price is $104.97 and its two-hundred day moving average price is $114.21. The firm has a market capitalization of $170.83 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

Analyst Upgrades and Downgrades

PDD has been the subject of several recent research reports. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Benchmark dropped their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.