Triata Capital Ltd Purchases Shares of 668,939 PDD Holdings Inc. (NASDAQ:PDD)

Triata Capital Ltd purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 668,939 shares of the company’s stock, valued at approximately $64,880,000. PDD makes up about 26.9% of Triata Capital Ltd’s holdings, making the stock its largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Vanguard Group Inc. increased its position in PDD by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after acquiring an additional 268,662 shares during the period. FMR LLC increased its position in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares during the period. Norges Bank acquired a new position in PDD in the 4th quarter valued at about $812,246,000. Finally, FIL Ltd increased its position in PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock valued at $773,847,000 after acquiring an additional 3,350,627 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PDD. Nomura restated a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup upgraded PDD from a “neutral” rating to a “buy” rating and boosted their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. JPMorgan Chase & Co. boosted their price target on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Finally, Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and a consensus target price of $174.00.

PDD Price Performance

Shares of NASDAQ:PDD opened at $117.61 on Friday. The business’s 50 day simple moving average is $109.83 and its 200-day simple moving average is $109.37. The firm has a market capitalization of $163.73 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $164.69.

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.