PKO Investment Management Joint Stock Co Acquires New Shares in PDD Holdings Inc. (NASDAQ:PDD)

PKO Investment Management Joint Stock Co acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $1,184,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its stake in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after purchasing an additional 97 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in PDD by 30.9% during 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. Focus Financial Network Inc. lifted its stake in PDD by 6.3% during the first quarter. Focus Financial Network Inc. now owns 2,279 shares of the company’s stock worth $270,000 after purchasing an additional 136 shares in the last quarter. New York Life Investment Management LLC lifted its stake in PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares in the last quarter. Finally, Cibc World Markets Corp lifted its stake in PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after purchasing an additional 164 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on PDD shares. China Renaissance restated a “hold” rating and set a $107.00 price target on shares of PDD in a research note on Wednesday, May 28th. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Macquarie restated an “outperform” rating on shares of PDD in a research note on Tuesday, May 27th. Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Jefferies Financial Group set a $121.00 price objective on PDD and gave the company a “buy” rating in a research note on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.55.

PDD Stock Performance

NASDAQ:PDD opened at $102.79 on Tuesday. The firm has a market capitalization of $143.10 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.32 and a beta of 0.42. The business’s fifty day moving average price is $104.43 and its 200 day moving average price is $108.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $155.67.

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.