PDD Holdings Inc. (NASDAQ:PDD) is Taikang Asset Management Hong Kong Co Ltd’s 7th Largest Position

Taikang Asset Management Hong Kong Co Ltd reduced its stake in PDD Holdings Inc. (NASDAQ:PDD) by 61.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,246 shares of the company’s stock after selling 250,795 shares during the period. PDD comprises 2.3% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its 7th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in PDD were worth $15,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its stake in shares of PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after purchasing an additional 97 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 buying an additional 132 shares during the period. New York Life Investment Management LLC raised its holdings in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after acquiring an additional 139 shares in the last quarter. Cibc World Markets Corp lifted its stake in PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after acquiring an additional 164 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of NASDAQ PDD opened at $128.12 on Tuesday. The stock has a market capitalization of $176.28 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s 50 day simple moving average is $116.40 and its 200-day simple moving average is $113.63. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday. Finally, Nomura reiterated a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.91.

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.