PDD Holdings Inc. (NASDAQ:PDD) Stock Position Increased by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 11.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,155 shares of the company's stock after buying an additional 14,100 shares during the period. PDD makes up 2.4% of Polymer Capital Management HK LTD's investment portfolio, making the stock its 8th largest holding. Polymer Capital Management HK LTD's holdings in PDD were worth $13,691,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PDD. Gordian Capital Singapore Pte Ltd increased its position in PDD by 1,218.9% in the 3rd 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 in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock valued at $5,155,000 after acquiring an additional 14,905 shares in the last quarter. Headwater Capital Co Ltd acquired a new position in shares of PDD during the fourth quarter worth approximately $9,699,000. Baillie Gifford & Co. lifted its holdings in shares of 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 purchasing an additional 1,942,891 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in PDD in the 4th quarter valued at $4,685,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

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PDD Stock Performance

PDD stock traded up $0.20 during trading on Friday, hitting $88.55. The stock had a trading volume of 13,714,312 shares, compared to its average volume of 11,134,200. The stock's 50 day moving average is $117.08 and its two-hundred day moving average is $114.54. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69. The stock has a market cap of $121.83 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.