AlpInvest Partners B.V. Acquires 39,982 Shares of PDD Holdings Inc. (NASDAQ:PDD)

AlpInvest Partners B.V. grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 22.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 218,050 shares of the company’s stock after buying an additional 39,982 shares during the quarter. PDD accounts for about 22.2% of AlpInvest Partners B.V.’s investment portfolio, making the stock its 3rd biggest holding. AlpInvest Partners B.V.’s holdings in PDD were worth $21,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PDD. Lord Abbett & CO. LLC grew its position in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after buying an additional 14,905 shares during the period. Headwater Capital Co Ltd purchased a new position in PDD in the 4th quarter valued at approximately $9,699,000. Baillie Gifford & Co. raised its holdings in 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 during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in PDD during the fourth quarter worth $4,685,000. Finally, Alberta Investment Management Corp lifted its holdings in shares of PDD by 12.6% in the fourth quarter. Alberta Investment Management Corp now owns 190,060 shares of the company’s stock valued at $18,434,000 after purchasing an additional 21,302 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of PDD stock opened at $90.50 on Monday. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69. The company has a market capitalization of $124.52 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. 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 firm has a fifty day simple moving average of $116.61 and a 200-day simple moving average of $114.28.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Citigroup restated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura restated a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group reduced their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five 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 MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and an average 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.