PDD Holdings Inc. (NASDAQ:PDD) Holdings Boosted by AlpInvest Partners B.V.

AlpInvest Partners B.V. increased its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 218,050 shares of the company's stock after acquiring an additional 39,982 shares during the quarter. PDD comprises 22.2% of AlpInvest Partners B.V.'s investment portfolio, making the stock its 3rd largest holding. AlpInvest Partners B.V.'s holdings in PDD were worth $21,149,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PDD. Nisa Investment Advisors LLC purchased a new position in PDD during the 4th quarter worth $39,000. Brooklyn Investment Group raised its stake in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after buying an additional 405 shares in the last quarter. Global Retirement Partners LLC grew its holdings in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after acquiring an additional 498 shares during the period. Farther Finance Advisors LLC grew its stake in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after purchasing an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after buying an additional 249 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PDD. JPMorgan Chase & Co. boosted their price objective on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of PDD in a report on Friday, March 21st. Nomura reissued a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup reissued a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Finally, Jefferies Financial Group dropped their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Stock Performance

Shares of PDD stock traded up $1.34 on Friday, hitting $93.69. 10,674,242 shares of the company's stock were exchanged, compared to its average volume of 11,295,157. The stock has a market capitalization of $128.91 billion, a PE ratio of 9.15, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69. 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 company has a 50-day simple moving average of $115.04 and a 200-day simple moving average of $113.42.

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.