Royal London Asset Management Ltd. Has $61.27 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Royal London Asset Management Ltd. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 82,362.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 631,666 shares of the company’s stock after buying an additional 630,900 shares during the period. Royal London Asset Management Ltd.’s holdings in PDD were worth $61,265,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in PDD in the third quarter valued at $27,000. Nisa Investment Advisors LLC acquired a new stake in PDD in the fourth quarter valued at $39,000. Avior Wealth Management LLC increased its holdings in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the period. Brooklyn Investment Group increased its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PDD. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group decreased their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday. Benchmark decreased their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.90.

PDD Price Performance

PDD stock opened at $130.92 on Friday. The stock 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’s 50-day moving average is $115.12 and its 200-day moving average is $112.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year 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.