PDD Holdings Inc. (NASDAQ:PDD) Stake Lifted by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,155 shares of the company’s stock after purchasing an additional 14,100 shares during the quarter. PDD comprises 2.4% of Polymer Capital Management HK LTD’s portfolio, making the stock its 8th largest position. Polymer Capital Management HK LTD’s holdings in PDD were worth $13,691,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PDD. Gordian Capital Singapore Pte Ltd raised its holdings in PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after buying an additional 6,460 shares during the period. Lord Abbett & CO. LLC raised its position in PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after purchasing an additional 14,905 shares during the period. Headwater Capital Co Ltd purchased a new position in PDD in the fourth quarter valued at about $9,699,000. Baillie Gifford & Co. boosted its holdings in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of PDD in the fourth quarter valued at $4,685,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the topic of several analyst reports. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Nomura restated 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. raised their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Finally, Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Trading Down 8.3 %

Shares of PDD stock opened at $104.21 on Friday. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a fifty day moving average of $119.14 and a two-hundred day moving average of $114.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market capitalization of $143.38 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

PDD Company 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.