PDD Holdings Inc. (NASDAQ:PDD) Stake Raised by Capital Today Evergreen Fund L.P.

Capital Today Evergreen Fund L.P. lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 60.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,493,586 shares of the company’s stock after purchasing an additional 935,854 shares during the quarter. PDD accounts for approximately 85.8% of Capital Today Evergreen Fund L.P.’s holdings, making the stock its biggest position. Capital Today Evergreen Fund L.P. owned approximately 0.18% of PDD worth $241,853,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PDD. CWM LLC boosted its holdings in PDD by 19.3% in the third quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $141,000 after purchasing an additional 169 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of PDD by 94.7% in the 3rd quarter. Blue Trust Inc. now owns 4,585 shares of the company’s stock worth $610,000 after buying an additional 2,230 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of PDD by 11.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the company’s stock worth $2,136,000 after acquiring an additional 1,623 shares during the period. Carrhae Capital LLP increased its position in PDD by 296.1% during the third quarter. Carrhae Capital LLP now owns 447,960 shares of the company’s stock valued at $60,389,000 after acquiring an additional 334,881 shares during the last quarter. Finally, TB Alternative Assets Ltd. lifted its holdings in PDD by 33.7% in the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after acquiring an additional 43,648 shares during the period. Institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PDD shares. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Jefferies Financial Group reduced their price target on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Benchmark lowered their price objective on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Price Performance

NASDAQ:PDD opened at $124.16 on Tuesday. The company has a 50 day moving average price of $104.97 and a 200-day moving average price of $114.04. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The firm has a market cap of $170.83 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.