Oddo BHF Asset Management Sas Invests $653,000 in PDD Holdings Inc. (NASDAQ:PDD)

Oddo BHF Asset Management Sas bought a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the third quarter, according to its most recent filing with the SEC. The firm bought 4,842 shares of the company’s stock, valued at approximately $653,000.

Several other institutional investors have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC boosted its position in shares of PDD by 5.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock valued at $244,000 after acquiring an additional 89 shares during the period. Ballentine Partners LLC boosted its holdings in PDD by 4.6% in the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after purchasing an additional 120 shares during the period. Parallel Advisors LLC grew its position in PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after purchasing an additional 122 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of PDD by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after purchasing an additional 133 shares during the period. Finally, OneDigital Investment Advisors LLC raised its position in shares of PDD by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $354,000 after buying an additional 166 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

PDD has been the topic of a number of recent research reports. Sanford C. Bernstein decreased their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Bank of America lowered their price objective on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Finally, Barclays dropped their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Price Performance

NASDAQ:PDD opened at $102.27 on Friday. The firm has a market cap of $140.71 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 0.30 and a beta of 0.66. The company’s 50-day moving average price is $116.95 and its two-hundred day moving average price is $125.06. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

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.