Aviva PLC Has $59.75 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Aviva PLC boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,033 shares of the company’s stock after buying an additional 7,088 shares during the period. Aviva PLC’s holdings in PDD were worth $59,749,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PDD. HighTower Advisors LLC raised its stake in shares of PDD by 100.5% in the third quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock worth $559,000 after purchasing an additional 800,614 shares during the last quarter. Quantinno Capital Management LP raised its position in PDD by 381.3% in the 3rd quarter. Quantinno Capital Management LP now owns 30,411 shares of the company’s stock valued at $4,100,000 after buying an additional 24,092 shares during the last quarter. Stifel Financial Corp lifted its stake in PDD by 172.8% during the 3rd quarter. Stifel Financial Corp now owns 6,400 shares of the company’s stock valued at $863,000 after acquiring an additional 4,054 shares in the last quarter. Wellington Management Group LLP boosted its holdings in PDD by 55.9% during the 3rd quarter. Wellington Management Group LLP now owns 888,438 shares of the company’s stock worth $119,770,000 after acquiring an additional 318,618 shares during the last quarter. Finally, Insigneo Advisory Services LLC bought a new stake in shares of PDD in the 3rd quarter worth $211,000. 39.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PDD has been the topic of several analyst reports. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Nomura reissued a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. raised their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. 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. According to MarketBeat, PDD has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Price Performance

Shares of NASDAQ:PDD opened at $104.21 on Friday. The firm has a market capitalization of $143.38 billion, a PE ratio of 10.18, a P/E/G ratio of 0.32 and a beta of 0.73. 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 moving average price of $119.14 and a two-hundred day moving average price of $114.99. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69.

PDD Company Profile

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.