Generali Asset Management SPA SGR Buys Shares of 1,700 PDD Holdings Inc. (NASDAQ:PDD)

Generali Asset Management SPA SGR acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,700 shares of the company’s stock, valued at approximately $165,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of PDD during the 3rd quarter valued at $27,000. Nisa Investment Advisors LLC bought a new stake in shares of PDD during the 4th quarter valued at $39,000. Brooklyn Investment Group raised its stake in shares of PDD by 340.3% during 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 PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after buying an additional 132 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 3.3 %

NASDAQ PDD opened at $126.64 on Friday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two 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 stock has a 50 day simple moving average of $115.75 and a two-hundred day simple moving average of $113.13. The stock has a market cap of $174.24 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PDD shares. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Nomura restated a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday. 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. Jefferies Financial Group reduced their target price on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Benchmark restated a “buy” rating and set a $160.00 target price on shares of PDD in a research report on Friday. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.91.

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.