iA Global Asset Management Inc. Purchases 1,393 Shares of PDD Holdings Inc. (NASDAQ:PDD)

iA Global Asset Management Inc. lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,048 shares of the company’s stock after acquiring an additional 1,393 shares during the period. iA Global Asset Management Inc.’s holdings in PDD were worth $7,861,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd increased its position in PDD by 1,218.9% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after buying an additional 6,460 shares in the last quarter. Lord Abbett & CO. LLC increased its position in PDD by 63.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after buying an additional 14,905 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new position in PDD during the 3rd quarter valued at approximately $74,221,000. Headwater Capital Co Ltd bought a new stake in shares of PDD in the 4th quarter worth $9,699,000. Finally, Baillie Gifford & Co. increased its holdings in shares of PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PDD. Benchmark reduced their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, 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 report on Thursday. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $171.90.

PDD Price Performance

NASDAQ PDD opened at $130.92 on Friday. The company has a market capitalization of $180.13 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The business’s fifty day moving average is $115.12 and its 200 day moving average is $112.92. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

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.