Twenty Acre Capital LP Grows Position in PDD Holdings Inc. (NASDAQ:PDD)

Twenty Acre Capital LP boosted its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 75.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,300 shares of the company's stock after purchasing an additional 26,400 shares during the period. PDD comprises approximately 4.9% of Twenty Acre Capital LP's investment portfolio, making the stock its 12th biggest position. Twenty Acre Capital LP's holdings in PDD were worth $5,945,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. HighTower Advisors LLC increased its stake in shares of PDD by 100.5% in the third quarter. HighTower Advisors LLC now owns 4,129 shares of the company's stock valued at $559,000 after buying an additional 800,614 shares during the period. Stifel Financial Corp boosted its holdings in PDD by 172.8% in the third quarter. Stifel Financial Corp now owns 6,400 shares of the company's stock valued at $863,000 after acquiring an additional 4,054 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in PDD by 42.1% in the third quarter. Sanctuary Advisors LLC now owns 13,306 shares of the company's stock valued at $1,794,000 after acquiring an additional 3,943 shares during the last quarter. Tidal Investments LLC increased its position in PDD by 1,019.4% during the 3rd quarter. Tidal Investments LLC now owns 71,173 shares of the company's stock valued at $9,595,000 after purchasing an additional 64,815 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new position in PDD during the 3rd quarter worth approximately $653,000. 39.83% of the stock is owned by institutional investors.

PDD Stock Up 1.5 %

Shares of NASDAQ:PDD traded up $1.34 during trading on Friday, reaching $93.69. 10,674,242 shares of the stock were exchanged, compared to its average volume of 11,327,470. The stock has a fifty day moving average of $114.56 and a two-hundred day moving average of $112.79. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market cap of $128.91 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

Analysts Set New Price Targets

PDD has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Citigroup reiterated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Nomura reissued a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report 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. Finally, JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Five equities 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 company. According to MarketBeat, PDD presently has an average rating of "Moderate Buy" and a consensus price target of $169.91.

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.