Thrivent Financial for Lutherans increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,491 shares of the company’s stock after purchasing an additional 7,670 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PDD were worth $5,045,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of PDD. Assenagon Asset Management S.A. lifted its holdings in shares of PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after purchasing an additional 5,070,827 shares during the period. Himalaya Capital Management LLC acquired a new stake in shares of PDD during the second quarter worth $482,273,000. Orbis Allan Gray Ltd lifted its holdings in shares of PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after purchasing an additional 3,250,416 shares during the period. Aspex Management HK Ltd acquired a new stake in shares of PDD during the third quarter worth $419,287,000. Finally, SG Americas Securities LLC lifted its holdings in shares of PDD by 931.4% during the fourth quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company’s stock worth $367,171,000 after purchasing an additional 2,924,176 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a report on Friday, March 27th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, April 17th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $137.86.
PDD Stock Performance
NASDAQ:PDD opened at $97.79 on Friday. The stock has a fifty day moving average price of $99.90 and a two-hundred day moving average price of $108.11. The stock has a market capitalization of $139.19 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.92 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a 1 year low of $93.81 and a 1 year high of $139.41.
PDD Profile
PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.
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