Himension Capital Singapore PTE. LTD. Raises Stake in PDD Holdings Inc. (NASDAQ:PDD)

Himension Capital Singapore PTE. LTD. raised its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 159.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,850 shares of the company’s stock after purchasing an additional 66,819 shares during the quarter. PDD comprises approximately 0.7% of Himension Capital Singapore PTE. LTD.’s portfolio, making the stock its 17th largest holding. Himension Capital Singapore PTE. LTD.’s holdings in PDD were worth $10,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in PDD by 5.4% in the 4th 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. Vanguard Group Inc. increased its holdings in shares of PDD by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after purchasing an additional 268,662 shares during the period. Norges Bank purchased a new stake in shares of PDD during the fourth quarter worth approximately $812,246,000. Geode Capital Management LLC lifted its holdings in shares of PDD by 23.7% during the fourth quarter. Geode Capital Management LLC now owns 5,794,895 shares of the company’s stock worth $559,482,000 after purchasing an additional 1,108,390 shares during the period. Finally, Appaloosa LP grew its position in PDD by 1.0% in the 4th quarter. Appaloosa LP now owns 5,356,132 shares of the company’s stock valued at $519,491,000 after buying an additional 55,000 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ PDD opened at $104.21 on Friday. 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 company’s 50-day moving average price is $119.14 and its 200 day moving average price is $114.99. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a market cap of $143.38 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.32 and a beta of 0.73.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Nomura restated a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their price objective on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.