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

B. Metzler seel. Sohn & Co. AG raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 19.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,286 shares of the company’s stock after purchasing an additional 8,325 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in PDD were worth $4,877,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PDD. Gordian Capital Singapore Pte Ltd boosted its position in PDD by 1,218.9% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after acquiring an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after acquiring an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new position in shares of PDD during the 3rd quarter worth $74,221,000. Headwater Capital Co Ltd acquired a new position in shares of PDD during the 4th quarter valued at about $9,699,000. Finally, Baillie Gifford & Co. grew its holdings in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Down 1.7 %

Shares of PDD opened at $118.35 on Tuesday. 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 stock has a market capitalization of $162.83 billion, a PE ratio of 11.56, a P/E/G ratio of 0.32 and a beta of 0.69. The company’s 50-day simple moving average is $118.41 and its 200-day simple moving average is $114.61. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

Analysts Set New Price Targets

Several equities analysts have weighed in on PDD shares. JPMorgan Chase & Co. boosted their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Jefferies Financial Group decreased their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Nomura reissued a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

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.