PKO Investment Management Joint Stock Co Invests $1.18 Million in PDD Holdings Inc. (NASDAQ:PDD)

PKO Investment Management Joint Stock Co acquired a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $1,184,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PDD. Global Retirement Partners LLC lifted its position in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after acquiring an additional 498 shares in the last quarter. Farther Finance Advisors LLC lifted its position in 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 purchasing an additional 132 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 acquiring an additional 249 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of 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 in the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in shares of PDD in the fourth quarter worth about $165,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Performance

Shares of PDD stock traded down $0.26 during trading on Tuesday, hitting $102.53. 4,461,388 shares of the company's stock were exchanged, compared to its average volume of 11,047,163. The stock has a market capitalization of $142.74 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.32 and a beta of 0.42. The business has a 50-day simple moving average of $104.43 and a 200-day simple moving average of $108.34. 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 $87.11 and a 52-week high of $155.67.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Macquarie reaffirmed an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Barclays cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Benchmark dropped their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, China Renaissance reiterated a "hold" rating and set a $107.00 price objective on shares of PDD in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.