BIT Capital GmbH Grows Stake in PDD Holdings Inc. (NASDAQ:PDD)

BIT Capital GmbH raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 85.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 685,365 shares of the company's stock after acquiring an additional 315,919 shares during the period. PDD makes up 5.3% of BIT Capital GmbH's portfolio, making the stock its 5th biggest position. BIT Capital GmbH's holdings in PDD were worth $66,474,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new stake in PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group grew its stake in shares of 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 buying an additional 405 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC lifted its position in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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PDD Stock Performance

NASDAQ PDD traded down $3.91 during trading hours on Friday, reaching $120.45. The company's stock had a trading volume of 6,950,853 shares, compared to its average volume of 10,689,709. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $118.16 and a 200 day simple moving average of $114.33. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a market cap of $165.72 billion, a PE ratio of 11.76, a PEG ratio of 0.32 and a beta of 0.69.

Analyst Ratings Changes

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

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.