PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Alden Global Capital LLC

Alden Global Capital LLC increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 55.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,375 shares of the company's stock after purchasing an additional 51,590 shares during the period. PDD comprises about 13.7% of Alden Global Capital LLC's investment portfolio, making the stock its largest position. Alden Global Capital LLC's holdings in PDD were worth $14,003,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. 3G Capital Partners LP lifted its holdings in shares of PDD by 13.3% during the fourth quarter. 3G Capital Partners LP now owns 425,000 shares of the company's stock valued at $41,221,000 after acquiring an additional 50,000 shares during the period. 683 Capital Management LLC grew its stake in PDD by 6.7% during the fourth quarter. 683 Capital Management LLC now owns 95,000 shares of the company's stock worth $9,214,000 after buying an additional 6,000 shares during the last quarter. Bienville Capital Management LLC increased its holdings in shares of PDD by 729.0% during the fourth quarter. Bienville Capital Management LLC now owns 102,800 shares of the company's stock worth $9,971,000 after buying an additional 90,400 shares in the last quarter. Wahed Invest LLC raised its stake in shares of PDD by 12.5% in the fourth quarter. Wahed Invest LLC now owns 10,825 shares of the company's stock valued at $1,050,000 after acquiring an additional 1,199 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in PDD by 4.1% during the 4th quarter. AQR Capital Management LLC now owns 884,082 shares of the company's stock worth $85,747,000 after acquiring an additional 35,036 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 4.7 %

Shares of NASDAQ PDD traded up $4.95 during midday trading on Friday, reaching $110.92. 9,141,885 shares of the stock were exchanged, compared to its average volume of 11,185,921. 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. The business has a 50-day simple moving average of $110.44 and a two-hundred day simple moving average of $109.96. The company has a market capitalization of $152.61 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.32 and a beta of 0.57.

Analysts Set New Price Targets

PDD has been the topic of several research reports. Nomura reiterated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research note 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 research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Benchmark restated a "buy" rating and set a $160.00 target price on shares of PDD in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.