Allianz SE Takes $379,000 Position in PDD Holdings Inc. (NASDAQ:PDD)

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

Several other institutional investors and hedge funds have also made changes to their positions in PDD. Norges Bank acquired a new position in PDD in the 4th quarter valued at about $812,246,000. H&H International Investment LLC lifted its holdings in PDD by 3,693.8% in the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after acquiring an additional 3,804,600 shares during the last quarter. Baillie Gifford & Co. grew its position in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. Capital Today Evergreen Fund L.P. raised its position in PDD by 60.1% in the fourth quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock valued at $241,853,000 after purchasing an additional 935,854 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of PDD by 100.5% during the 3rd quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock worth $559,000 after purchasing an additional 800,614 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of NASDAQ:PDD opened at $120.45 on Monday. The company’s fifty day moving average price is $118.16 and its 200 day moving average price is $114.47. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PDD. Nomura reissued a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of PDD in a report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given 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 $169.91.

PDD Company 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.