Northwest & Ethical Investments L.P. Has $1.73 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Northwest & Ethical Investments L.P. raised its position in PDD Holdings Inc. (NASDAQ:PDD) by 12.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 17,881 shares of the company’s stock after acquiring an additional 1,996 shares during the period. Northwest & Ethical Investments L.P.’s holdings in PDD were worth $1,734,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of PDD by 25.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,060 shares of the company’s stock valued at $879,000 after buying an additional 1,840 shares during the last quarter. Contrarius Group Holdings Ltd purchased a new position in shares of PDD during the fourth quarter valued at approximately $10,059,000. iA Global Asset Management Inc. boosted its position in shares of PDD by 1.7% during the fourth quarter. iA Global Asset Management Inc. now owns 81,048 shares of the company’s stock valued at $7,861,000 after buying an additional 1,393 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of PDD by 82,362.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 631,666 shares of the company’s stock valued at $61,265,000 after buying an additional 630,900 shares during the last quarter. Finally, Vinva Investment Management Ltd boosted its position in shares of PDD by 65.3% during the fourth quarter. Vinva Investment Management Ltd now owns 2,971 shares of the company’s stock valued at $280,000 after buying an additional 1,174 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PDD shares. Nomura reaffirmed a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. 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 research report on Thursday. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, PDD has an average rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

Shares of PDD opened at $126.64 on Friday. The firm has a market cap of $174.24 billion, a PE ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69. The stock’s fifty day moving average price is $115.75 and its two-hundred day moving average price is $113.13. 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.

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.