American Century Companies Inc. Has $52.78 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

American Century Companies Inc. raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 544,159 shares of the company’s stock after purchasing an additional 37,165 shares during the quarter. American Century Companies Inc.’s holdings in PDD were worth $52,778,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of PDD by 39.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock worth $559,000 after acquiring an additional 1,184 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of PDD in the third quarter valued at approximately $678,000. Townsquare Capital LLC lifted its holdings in shares of PDD by 51.7% in the third quarter. Townsquare Capital LLC now owns 3,810 shares of the company’s stock valued at $514,000 after purchasing an additional 1,298 shares in the last quarter. BNP Paribas purchased a new position in shares of PDD during the third quarter valued at approximately $475,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PDD by 6.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 363,958 shares of the company’s stock worth $49,065,000 after buying an additional 21,348 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PDD. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group decreased their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.91.

PDD Price Performance

NASDAQ PDD opened at $122.47 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $168.50 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The firm’s 50-day simple moving average is $117.38 and its two-hundred day simple moving average is $113.92.

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.