PDD Holdings Inc. (NASDAQ:PDD) is Tairen Capital Ltd’s 2nd Largest Position

Tairen Capital Ltd decreased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 87.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 712,134 shares of the company’s stock after selling 4,803,243 shares during the quarter. PDD comprises about 10.2% of Tairen Capital Ltd’s holdings, making the stock its 2nd biggest position. Tairen Capital Ltd’s holdings in PDD were worth $69,070,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the fourth quarter worth $39,000. Brooklyn Investment Group grew its holdings in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Down 0.2%

NASDAQ PDD opened at $117.61 on Friday. The firm’s 50-day moving average is $109.83 and its two-hundred day moving average is $109.37. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month 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 stock has a market capitalization of $163.73 billion, a P/E ratio of 11.49, a PEG ratio of 0.32 and a beta of 0.57.

Wall Street Analysts Forecast Growth

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

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.