B. Metzler seel. Sohn & Co. AG Raises Position in PDD Holdings Inc. (NASDAQ:PDD)

B. Metzler seel. Sohn & Co. AG increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,286 shares of the company’s stock after buying an additional 8,325 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in PDD were worth $4,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd raised its holdings in shares of PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after buying an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of PDD by 63.9% during the third 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 during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in shares of PDD in the 3rd quarter valued at $74,221,000. Headwater Capital Co Ltd purchased a new position in PDD in the 4th quarter worth $9,699,000. Finally, Baillie Gifford & Co. lifted its position in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. lifted their price objective on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Finally, Benchmark restated a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Trading Down 1.7 %

Shares of PDD stock opened at $118.35 on Tuesday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. 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 company has a market cap of $162.83 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The firm has a 50-day simple moving average of $118.41 and a two-hundred day simple moving average of $114.61.

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.