Investmentaktiengesellschaft Fuer Langfristige Investoren TGV Has $21.71 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 230,000 shares of the company’s stock after buying an additional 10,000 shares during the period. PDD accounts for about 1.6% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s investment portfolio, making the stock its 11th largest holding. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings in PDD were worth $21,710,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PDD. Prospera Private Wealth LLC acquired a new stake in PDD during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in shares of PDD during the third quarter worth $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group raised its holdings in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after buying an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PDD shares. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark dropped their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Trading Up 5.6 %

PDD stock opened at $131.34 on Friday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a market cap of $180.71 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.32 and a beta of 0.67. 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 50-day moving average of $107.12 and a 200-day moving average of $114.08.

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.