The Manufacturers Life Insurance Company increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 2.2% during the fourth quarter, as revealed in its latest 13F filing with the SEC. The company now owns 830,880 shares of PDD, valued at approximately $80.59 million, representing about 0.06% of the company’s outstanding stock.
Other institutional investors have also adjusted their positions in PDD. Nisa Investment Advisors LLC established a new position in the company, while Brooklyn Investment Group, Global Retirement Partners LLC, Farther Finance Advisors LLC, and EverSource Wealth Advisors LLC all increased their holdings.
Analysts have recently updated their ratings for PDD. JPMorgan Chase & Co. raised its price target from $105.00 to $125.00, maintaining a “neutral” rating. Nomura reaffirmed a “neutral” rating with a $130.00 price target. Jefferies Financial Group set a “buy” rating with a $156.00 price target. The consensus among analysts is a “Moderate Buy” with an average target price of $169.91.
PDD Holdings Inc. operates as a multinational commerce group, managing e-commerce platforms including Pinduoduo and Temu. The company has a market capitalization of $143.30 billion and a P/E ratio of 10.17. Its stock has a 52-week low of $87.11 and a high of $164.69.
