Allianz SE Makes New $379,000 Investment in PDD Holdings Inc. (NASDAQ:PDD)

Allianz SE purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,012 shares of the company’s stock, valued at approximately $379,000.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in shares of PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after acquiring an additional 97 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares in the last quarter. New York Life Investment Management LLC lifted its position in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after buying an additional 139 shares during the last quarter. Cibc World Markets Corp boosted its holdings in shares of PDD by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after buying an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Performance

Shares of PDD stock opened at $120.45 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The business’s 50 day moving average is $118.16 and its two-hundred day moving average is $114.47. The company has a market capitalization of $165.72 billion, a P/E ratio of 11.76, a P/E/G ratio of 0.32 and a beta of 0.69.

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.