American International Group Inc. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,219 shares of the company’s stock after buying an additional 2,026 shares during the quarter. American International Group Inc.’s holdings in PDD were worth $7,786,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its position in PDD by 294.4% during the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after buying an additional 209 shares during the period. Turim 21 Investimentos Ltda. acquired a new position in PDD during the third quarter worth about $55,000. Gordian Capital Singapore Pte Ltd acquired a new position in PDD during the fourth quarter worth about $59,000. EverSource Wealth Advisors LLC grew its position in PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the period. Finally, AJOVista LLC acquired a new position in PDD during the fourth quarter worth about $103,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.
PDD Stock Performance
Shares of PDD opened at $144.18 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The company has a market capitalization of $198.37 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.26 and a beta of 0.64. PDD Holdings Inc. has a 1 year low of $66.40 and a 1 year high of $164.69. The company’s 50 day simple moving average is $138.19 and its 200 day simple moving average is $134.96.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. UBS Group upped their price target on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Bank of America upped their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Sanford C. Bernstein upped their price target on shares of PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Finally, Benchmark upped their price target on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $188.33.
Check Out Our Latest Report on PDD
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.
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