Trexquant Investment LP Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Trexquant Investment LP purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 160,033 shares of the company's stock, valued at approximately $15,522,000.

A number of other hedge funds also recently modified their holdings of PDD. Gordian Capital Singapore Pte Ltd raised its stake in shares of PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock valued at $942,000 after purchasing an additional 6,460 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of PDD by 63.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock worth $5,155,000 after acquiring an additional 14,905 shares during the period. Maple Rock Capital Partners Inc. bought a new position in shares of PDD during the 3rd quarter worth about $74,221,000. Headwater Capital Co Ltd acquired a new stake in shares of PDD during the 4th quarter valued at about $9,699,000. Finally, Baillie Gifford & Co. increased its stake in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. Institutional investors own 39.83% of the company's stock.

PDD Price Performance

Shares of PDD stock traded down $5.40 during trading on Thursday, reaching $113.67. The company's stock had a trading volume of 11,745,816 shares, compared to its average volume of 10,725,196. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The stock has a 50-day moving average price of $119.28 and a two-hundred day moving average price of $114.83. 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 stock has a market capitalization of $156.40 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

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Wall Street Analysts Forecast Growth

PDD has been the subject of a number of analyst reports. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Benchmark restated a "buy" rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Nomura reaffirmed a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group dropped their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Five research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $169.91.

PDD 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.