iA Global Asset Management Inc. Grows Position in PDD Holdings Inc. (NASDAQ:PDD)

iA Global Asset Management Inc. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,048 shares of the company’s stock after purchasing an additional 1,393 shares during the period. iA Global Asset Management Inc.’s holdings in PDD were worth $7,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PDD. OneDigital Investment Advisors LLC lifted its position in shares of PDD by 6.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after acquiring an additional 166 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of PDD by 27.1% in the third quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock valued at $653,000 after acquiring an additional 1,033 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after acquiring an additional 169 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of PDD in the third quarter valued at about $27,000. Finally, Advisors Asset Management Inc. lifted its position in shares of PDD by 39.9% in the third quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock valued at $559,000 after acquiring an additional 1,184 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Up 4.0 %

Shares of NASDAQ PDD opened at $130.92 on Friday. The business’s 50 day moving average is $115.12 and its two-hundred day moving average is $112.92. 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 1-year low of $88.01 and a 1-year high of $164.69. The stock has a market capitalization of $180.13 billion, a P/E ratio of 12.79, a PEG ratio of 0.32 and a beta of 0.69.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PDD shares. Benchmark lowered their price objective on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $171.90.

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.