Generali Investments CEE investicni spolecnost a.s. Makes New $1.36 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Generali Investments CEE investicni spolecnost a.s. bought a new position in PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, Holdings Channel.com reports. The firm bought 14,000 shares of the company’s stock, valued at approximately $1,358,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PDD. Prospera Private Wealth LLC acquired a new position in PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD during the 3rd quarter worth $29,000. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the 4th quarter worth $39,000. Brooklyn Investment Group grew its stake in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of NASDAQ PDD opened at $119.92 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $164.99 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a 50-day simple moving average of $110.66 and a 200-day simple moving average of $112.33. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PDD. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD 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.