APG Asset Management N.V. Buys 109,400 Shares of PDD Holdings Inc. (NASDAQ:PDD)

APG Asset Management N.V. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 16.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 789,528 shares of the company’s stock after buying an additional 109,400 shares during the quarter. APG Asset Management N.V.’s holdings in PDD were worth $73,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after buying an additional 97 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp raised its stake in shares of PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after purchasing an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Stock Down 4.0 %

PDD stock opened at $100.01 on Tuesday. The firm has a market capitalization of $137.60 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.32 and a beta of 0.73. The company’s 50 day simple moving average is $118.92 and its 200 day simple moving average is $115.11. 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 fifty-two week low of $88.01 and a fifty-two week high of $164.69.

Wall Street Analyst Weigh In

PDD has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Finally, Nomura restated a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

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.