E. Ohman J or Asset Management AB grew its stake in PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 6.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 53,400 shares of the company’s stock after buying an additional 3,000 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in PDD were worth $7,199,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in PDD. TB Alternative Assets Ltd. boosted its position in shares of PDD by 33.7% during the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after acquiring an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. increased its stake in PDD by 13.3% in the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after purchasing an additional 27,567 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in PDD by 63.7% during the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares in the last quarter. Global X Japan Co. Ltd. lifted its position in shares of PDD by 20.4% during the 3rd quarter. Global X Japan Co. Ltd. now owns 155,482 shares of the company’s stock worth $20,961,000 after buying an additional 26,356 shares during the last quarter. Finally, BOCHK Asset Management Ltd boosted its holdings in shares of PDD by 3,391.7% in the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock valued at $5,649,000 after buying an additional 40,700 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.
PDD Stock Performance
Shares of PDD opened at $121.38 on Friday. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a market capitalization of $167.00 billion, a P/E ratio of 16.08, a P/E/G ratio of 0.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The company’s fifty day moving average is $120.26 and its two-hundred day moving average is $130.67.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Daiwa America raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and reduced their target price for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Jefferies Financial Group cut their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Bank of America decreased their price objective on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Barclays cut their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $182.40.
Check Out Our Latest Stock Report on PDD
About PDD
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.
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