SRS Investment Management LLC Has $394.20 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

SRS Investment Management LLC lessened its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,064,381 shares of the company's stock after selling 287,136 shares during the period. PDD makes up about 5.6% of SRS Investment Management LLC's investment portfolio, making the stock its 6th biggest holding. SRS Investment Management LLC owned about 0.30% of PDD worth $394,204,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PDD. Nisa Investment Advisors LLC bought a new stake in PDD during the 4th quarter worth about $39,000. Brooklyn Investment Group raised its holdings in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC boosted its position in 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 last quarter. 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 grew its stake in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 0.7 %

Shares of NASDAQ PDD traded up $0.74 during trading on Friday, hitting $104.01. 5,059,614 shares of the company traded hands, compared to its average volume of 11,286,151. 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 business's fifty day moving average is $112.72 and its 200 day moving average is $111.57. The firm has a market capitalization of $143.10 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $164.69.

Wall Street Analysts Forecast Growth

Several research firms have recently 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 report on Thursday, March 20th. Jefferies Financial Group cut their price target on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Five research 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. According to MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and an average price target of $169.91.

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.