Raiffeisen Bank International AG Buys New Shares in PDD Holdings Inc. (NASDAQ:PDD)

Raiffeisen Bank International AG acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,700 shares of the company's stock, valued at approximately $444,000.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on PDD shares. Nomura reiterated a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and upped their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Finally, Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.00.

PDD Stock Performance

PDD stock traded up $3.62 during trading hours on Thursday, reaching $119.82. 5,124,694 shares of the company were exchanged, compared to its average volume of 11,049,785. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $109.69 and a 200 day moving average of $109.38. The firm has a market cap of $166.81 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $164.69.

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.