Thrivent Financial for Lutherans Increases Stake in PDD Holdings Inc. (NASDAQ:PDD)

Thrivent Financial for Lutherans raised its stake in PDD Holdings Inc. (NASDAQ:PDD) by 71.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,323 shares of the company’s stock after purchasing an additional 17,286 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PDD were worth $4,008,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cibc World Markets Corp boosted its holdings in shares of PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after purchasing an additional 164 shares during the period. Corient Private Wealth LLC raised its position in PDD by 17.6% during the 4th quarter. Corient Private Wealth LLC now owns 8,304 shares of the company’s stock valued at $805,000 after purchasing an additional 1,241 shares during the last quarter. Appaloosa LP lifted its holdings in PDD by 1.0% in the 4th quarter. Appaloosa LP now owns 5,356,132 shares of the company’s stock worth $519,491,000 after buying an additional 55,000 shares during the period. 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. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Down 2.2 %

PDD stock opened at $125.25 on Wednesday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a fifty day simple moving average of $116.94 and a two-hundred day simple moving average of $113.86. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $172.33 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.32 and a beta of 0.69.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PDD shares. JPMorgan Chase & Co. boosted 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, March 21st. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group reduced their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Nomura restated a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.