Oddo BHF Asset Management Sas Invests $653,000 in PDD Holdings Inc. (NASDAQ:PDD)

Oddo BHF Asset Management Sas bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,842 shares of the company’s stock, valued at approximately $653,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd boosted its holdings in shares of PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after buying an additional 6,460 shares during the period. TB Alternative Assets Ltd. boosted its stake in PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after purchasing an additional 43,648 shares during the period. Vontobel Holding Ltd. grew its position in PDD by 13.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after purchasing an additional 27,567 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after purchasing an additional 89,853 shares during the period. Finally, BOCHK Asset Management Ltd lifted its holdings in shares of PDD by 3,391.7% in the third quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock valued at $5,649,000 after purchasing an additional 40,700 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PDD. Barclays lowered their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Jefferies Financial Group dropped their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and decreased their target price for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Down 2.3 %

PDD stock opened at $102.27 on Friday. The company has a market capitalization of $140.71 billion, a P/E ratio of 9.99, a P/E/G ratio of 0.30 and a beta of 0.66. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The firm’s fifty day simple moving average is $116.95 and its 200-day simple moving average is $125.06. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.