AGF Management Ltd. Purchases 1,039 Shares of PDD Holdings Inc. (NASDAQ:PDD)

AGF Management Ltd. lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,126 shares of the company’s stock after acquiring an additional 1,039 shares during the period. AGF Management Ltd.’s holdings in PDD were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PDD. Gordian Capital Singapore Pte Ltd boosted its holdings in shares of PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after buying an additional 14,905 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new position in PDD in the third quarter valued at about $74,221,000. Headwater Capital Co Ltd acquired a new position in PDD during the fourth quarter worth about $9,699,000. Finally, Baillie Gifford & Co. raised its stake in PDD by 5.4% during the fourth 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. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $122.54 on Friday. The firm has a market cap of $168.60 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.32 and a beta of 0.69. The stock’s 50 day moving average is $112.87 and its 200 day moving average is $111.96. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

Analysts Set New Price Targets

PDD has been the topic of several research reports. Benchmark decreased their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a 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 on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.40.

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.