Aviva PLC Buys 7,088 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Aviva PLC grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 616,033 shares of the company’s stock after acquiring an additional 7,088 shares during the period. Aviva PLC’s holdings in PDD were worth $59,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in PDD during the fourth quarter valued at $812,246,000. Baillie Gifford & Co. boosted its position in shares of PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PDD by 23.7% during the fourth quarter. Geode Capital Management LLC now owns 5,794,895 shares of the company’s stock worth $559,482,000 after purchasing an additional 1,108,390 shares in the last quarter. Capital Today Evergreen Fund L.P. increased its position in shares of 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 worth $241,853,000 after purchasing an additional 935,854 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in PDD by 100.5% in the third quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock valued at $559,000 after purchasing an additional 800,614 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the subject of a number of research reports. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. raised their price target on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Five equities research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

NASDAQ:PDD opened at $104.21 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market cap of $143.38 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The business has a 50 day moving average price of $119.14 and a 200-day moving average price of $114.99.

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.