Zurcher Kantonalbank Zurich Cantonalbank Increases Position in PDD Holdings Inc. (NASDAQ:PDD)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,638 shares of the company’s stock after acquiring an additional 16,680 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PDD were worth $36,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in PDD during the third quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in shares of PDD during the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC purchased a new position in shares of PDD during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group lifted its stake in shares of PDD by 340.3% during 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 period. Finally, Global Retirement Partners LLC lifted its stake in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after buying an additional 498 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Benchmark lowered their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Trading Down 3.6 %

Shares of NASDAQ:PDD opened at $115.63 on Tuesday. The company has a market cap of $159.09 billion, a PE ratio of 11.29, a P/E/G ratio of 0.32 and a beta of 0.69. The company’s 50-day moving average price is $111.08 and its 200 day moving average price is $111.87. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.