Pamalican Asset Management Ltd Acquires Shares of 118,000 PDD Holdings Inc. (NASDAQ:PDD)

Pamalican Asset Management Ltd purchased a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 118,000 shares of the company's stock, valued at approximately $11,445,000. PDD accounts for approximately 5.1% of Pamalican Asset Management Ltd's investment portfolio, making the stock its 5th largest position.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new position in shares of PDD during the 4th quarter valued at $39,000. Brooklyn Investment Group increased its stake in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of PDD by 30.9% during 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 during the period. Finally, EverSource Wealth Advisors LLC increased its position in 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. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PDD. Nomura reissued a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. 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 company's stock. Based on data from MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and an average price target of $169.91.

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PDD Stock Performance

NASDAQ:PDD traded down $4.04 during trading on Wednesday, reaching $89.94. The company's stock had a trading volume of 17,833,885 shares, compared to its average volume of 10,960,995. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The firm has a market cap of $123.75 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The firm has a 50 day moving average of $118.20 and a 200-day moving average of $114.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.