Sylebra Capital LLC Purchases 332,211 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Sylebra Capital LLC increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 207.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 492,166 shares of the company's stock after acquiring an additional 332,211 shares during the quarter. PDD comprises 2.2% of Sylebra Capital LLC's portfolio, making the stock its 11th biggest holding. Sylebra Capital LLC's holdings in PDD were worth $66,349,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company's stock valued at $1,772,106,000 after buying an additional 12,253,589 shares in the last quarter. H&H International Investment LLC grew its holdings in shares of PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company's stock worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of PDD by 107.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company's stock worth $487,984,000 after purchasing an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd grew its holdings in shares of PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock worth $715,055,000 after purchasing an additional 1,788,076 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company's stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Price Performance

PDD stock traded down $5.84 during midday trading on Tuesday, hitting $104.49. 11,489,456 shares of the company's stock were exchanged, compared to its average volume of 10,730,250. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock has a 50-day moving average price of $120.76 and a two-hundred day moving average price of $126.29. 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 company has a market cap of $143.76 billion, a P/E ratio of 10.20, a PEG ratio of 0.29 and a beta of 0.67.

Analysts Set New Price Targets

PDD has been the topic of several analyst reports. Benchmark reduced their target price on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Dbs Bank downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Macquarie upgraded PDD from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. downgraded PDD from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Daiwa America upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned 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 $173.40.

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.