PKO Investment Management Joint Stock Co Acquires New Stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

PKO Investment Management Joint Stock Co acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $1,184,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PDD. Allspring Global Investments Holdings LLC lifted its position in shares of PDD by 236.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 53,264 shares of the company's stock worth $5,161,000 after buying an additional 37,421 shares during the last quarter. Baillie Gifford & Co. raised its stake in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in PDD by 26.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 22,785 shares of the company's stock valued at $2,210,000 after acquiring an additional 4,709 shares during the last quarter. FengHe Fund Management Pte. Ltd. acquired a new position in PDD in the fourth quarter valued at $2,066,000. Finally, CIBC Asset Management Inc grew its holdings in shares of PDD by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 127,820 shares of the company's stock worth $12,397,000 after purchasing an additional 2,301 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

NASDAQ:PDD traded down $1.04 during mid-day trading on Friday, hitting $101.21. 12,478,592 shares of the company's stock traded hands, compared to its average volume of 11,063,212. The company has a market cap of $140.90 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.45 and a beta of 0.42. The firm's 50 day simple moving average is $105.04 and its 200 day simple moving average is $108.28. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a "buy" rating in a report on Tuesday, May 27th. Macquarie restated an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Finally, China Renaissance reaffirmed a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

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.