Sava Infond d.o.o. Acquires New Shares in PDD Holdings Inc. (NASDAQ:PDD)

Sava Infond d.o.o. bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $582,000.

Several other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new position in PDD during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group boosted its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC grew its position in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of PDD by 43.2% in 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. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PDD. JPMorgan Chase & Co. boosted their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Citigroup restated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Nomura reiterated a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reissued a “buy” rating and issued a $160.00 price target 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 research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

NASDAQ PDD opened at $124.36 on Friday. The company has a 50-day simple moving average of $117.86 and a two-hundred day simple moving average of $113.99. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The firm has a market cap of $171.10 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

PDD Company 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.