Central Asset Investments & Management Holdings HK Ltd Makes New $339,000 Investment in PDD Holdings Inc. (NASDAQ:PDD)

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,500 shares of the company’s stock, valued at approximately $339,000.

Several other institutional investors have also made changes to their positions in PDD. New York Life Investment Management LLC grew its position in PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after buying an additional 139 shares in the last quarter. GenTrust LLC acquired a new stake in shares of PDD during the 4th quarter worth $323,000. National Pension Service increased its position in shares of PDD by 0.5% in the fourth quarter. National Pension Service now owns 181,311 shares of the company’s stock worth $17,585,000 after purchasing an additional 944 shares during the period. Los Angeles Capital Management LLC raised its stake in PDD by 789.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 62,827 shares of the company’s stock valued at $6,094,000 after purchasing an additional 55,761 shares in the last quarter. Finally, Todd Asset Management LLC lifted its position in PDD by 19.0% during the fourth quarter. Todd Asset Management LLC now owns 216,510 shares of the company’s stock worth $20,999,000 after purchasing an additional 34,521 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Up 0.5 %

Shares of NASDAQ:PDD opened at $119.77 on Thursday. 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 52-week low of $88.01 and a 52-week high of $164.69. The company has a market capitalization of $164.79 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66. The company has a fifty day moving average of $108.23 and a 200-day moving average of $113.72.

Analyst Upgrades and Downgrades

PDD has been the topic of several recent analyst reports. Jefferies Financial Group decreased their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Benchmark decreased their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock 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 report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

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.