iA Global Asset Management Inc. Has $8.49 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

iA Global Asset Management Inc. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,060 shares of the company’s stock after purchasing an additional 4,467 shares during the period. iA Global Asset Management Inc.’s holdings in PDD were worth $8,493,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. raised its stake in PDD by 2.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after buying an additional 78 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of PDD by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after purchasing an additional 98 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the period. PDS Planning Inc increased its stake in shares of PDD by 5.2% during the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock worth $341,000 after purchasing an additional 116 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of PDD by 6.8% during the first quarter. Ballentine Partners LLC now owns 2,581 shares of the company’s stock worth $300,000 after purchasing an additional 164 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PDD shares. Barclays increased their target price on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. UBS Group increased their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Citigroup increased their target price on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Benchmark increased their price target on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Bank of America lifted their price objective on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $188.33.

PDD Price Performance

Shares of PDD traded down $1.07 during midday trading on Thursday, hitting $127.82. The company’s stock had a trading volume of 4,328,995 shares, compared to its average volume of 8,403,939. PDD Holdings Inc. has a one year low of $75.44 and a one year high of $164.69. The company’s fifty day simple moving average is $140.61 and its two-hundred day simple moving average is $132.65. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $175.86 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 0.21 and a beta of 0.63.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $10.62 billion. As a group, equities analysts expect that PDD Holdings Inc. will post 11.41 earnings per share for the current fiscal year.

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.