PDD Holdings Inc. (NASDAQ:PDD) is RV Capital AG’s 6th Largest Position

RV Capital AG raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 8.2% during the 4th quarter, HoldingsChannel reports. The fund owned 345,489 shares of the company’s stock after purchasing an additional 26,100 shares during the period. PDD accounts for approximately 7.2% of RV Capital AG’s portfolio, making the stock its 6th biggest holding. RV Capital AG’s holdings in PDD were worth $33,509,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PDD. Exchange Traded Concepts LLC purchased a new position in PDD during the fourth quarter valued at approximately $1,833,000. Nisa Investment Advisors LLC purchased a new position in shares of PDD during the 4th quarter valued at $39,000. Atomi Financial Group Inc. increased its stake in shares of PDD by 6.1% in the fourth quarter. Atomi Financial Group Inc. now owns 6,778 shares of the company’s stock worth $657,000 after acquiring an additional 387 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 405 shares in the last quarter. Finally, Yarbrough Capital LLC acquired a new stake in PDD during the fourth quarter valued at $1,942,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 7.0 %

Shares of NASDAQ:PDD opened at $111.34 on Monday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $153.19 billion, a P/E ratio of 10.87, a P/E/G ratio of 0.27 and a beta of 0.66. The stock’s 50-day moving average is $101.52 and its 200-day moving average is $116.13.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PDD. Macquarie raised 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 research note on Monday, October 7th. Benchmark cut their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group decreased their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

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.