PDD Holdings Inc. (NASDAQ:PDD) is BIT Capital GmbH’s 5th Largest Position

BIT Capital GmbH lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 85.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 685,365 shares of the company’s stock after buying an additional 315,919 shares during the quarter. PDD makes up about 5.3% of BIT Capital GmbH’s holdings, making the stock its 5th largest holding. BIT Capital GmbH’s holdings in PDD were worth $66,474,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in shares of PDD by 39.9% during the third quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock valued at $559,000 after buying an additional 1,184 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in PDD during the 3rd quarter valued at about $678,000. Townsquare Capital LLC increased its holdings in shares of PDD by 51.7% in the 3rd quarter. Townsquare Capital LLC now owns 3,810 shares of the company’s stock valued at $514,000 after purchasing an additional 1,298 shares during the period. BNP Paribas acquired a new position in shares of PDD in the 3rd quarter valued at about $475,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PDD by 6.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 363,958 shares of the company’s stock worth $49,065,000 after purchasing an additional 21,348 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 2.2 %

Shares of PDD stock opened at $122.47 on Thursday. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a market capitalization of $168.50 billion, a P/E ratio of 11.96, a PEG ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $117.38 and a two-hundred day moving average price of $113.92.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PDD shares. 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 research note on Friday, March 21st. Jefferies Financial Group dropped their price target 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. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Nomura reaffirmed a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Citigroup reissued a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $169.91.

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.