Capital Today Evergreen Fund L.P. Acquires 935,854 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Capital Today Evergreen Fund L.P. increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 60.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,493,586 shares of the company's stock after purchasing an additional 935,854 shares during the quarter. PDD accounts for 85.8% of Capital Today Evergreen Fund L.P.'s holdings, making the stock its biggest holding. Capital Today Evergreen Fund L.P. owned approximately 0.18% of PDD worth $241,853,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. CWM LLC raised its position in PDD by 19.3% in the 3rd quarter. CWM LLC now owns 1,046 shares of the company's stock worth $141,000 after purchasing an additional 169 shares during the period. Blue Trust Inc. grew its stake in shares of PDD by 94.7% during the third quarter. Blue Trust Inc. now owns 4,585 shares of the company's stock valued at $610,000 after buying an additional 2,230 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of PDD by 11.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the company's stock worth $2,136,000 after acquiring an additional 1,623 shares during the last quarter. Carrhae Capital LLP lifted its stake in shares of PDD by 296.1% during the 3rd quarter. Carrhae Capital LLP now owns 447,960 shares of the company's stock worth $60,389,000 after acquiring an additional 334,881 shares during the last quarter. Finally, TB Alternative Assets Ltd. boosted its holdings in PDD by 33.7% during the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company's stock valued at $23,342,000 after acquiring an additional 43,648 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group dropped their target price on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Finally, Dbs Bank downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.40.

PDD Stock Up 5.6 %

PDD stock traded up $6.93 during trading on Friday, hitting $131.34. 16,790,320 shares of the company's stock traded hands, compared to its average volume of 8,707,887. The firm has a market capitalization of $180.71 billion, a P/E ratio of 12.83, a PEG ratio of 0.32 and a beta of 0.67. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $107.12 and a two-hundred day simple moving average of $114.21.

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.