Alberta Investment Management Corp Raises Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Alberta Investment Management Corp grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,060 shares of the company’s stock after purchasing an additional 21,302 shares during the quarter. Alberta Investment Management Corp’s holdings in PDD were worth $18,434,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Baillie Gifford & Co. boosted its position in PDD by 5.4% during the fourth 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 last quarter. FMR LLC boosted its position in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares during the last quarter. Geode Capital Management LLC boosted its position in PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after acquiring an additional 513,248 shares during the last quarter. Finally, H&H International Investment LLC boosted its position in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after acquiring an additional 3,804,600 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Benchmark decreased their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group decreased their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. 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 stock. Based on data from MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Stock Performance

Shares of PDD stock opened at $128.46 on Wednesday. The company’s fifty day simple moving average is $105.72 and its 200-day simple moving average is $114.03. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $176.74 billion, a PE ratio of 12.54, a P/E/G ratio of 0.32 and a beta of 0.67.

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.