Bayesian Capital Management LP Acquires Shares of 4,063 PDD Holdings Inc. (NASDAQ:PDD)

Bayesian Capital Management LP acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,063 shares of the company's stock, valued at approximately $394,000.

Several other large investors have also bought and sold shares of the stock. Range Financial Group LLC acquired a new position in PDD in the fourth quarter valued at approximately $224,000. Headwater Capital Co Ltd acquired a new stake in PDD in the fourth quarter worth $9,699,000. Carolina Wealth Advisors LLC grew its holdings in PDD by 347.1% in the fourth quarter. Carolina Wealth Advisors LLC now owns 2,173 shares of the company's stock worth $211,000 after purchasing an additional 1,687 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of PDD by 5.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,430 shares of the company's stock valued at $721,000 after purchasing an additional 400 shares during the period. Finally, Sicart Associates LLC raised its holdings in shares of PDD by 8.2% during the fourth quarter. Sicart Associates LLC now owns 10,116 shares of the company's stock valued at $981,000 after purchasing an additional 767 shares during the period. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PDD. Benchmark restated a "buy" rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and raised their price target for the company from $127.00 to $165.00 in a research report on Monday. Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $174.00.

PDD Stock Performance

Shares of NASDAQ:PDD traded up $6.56 during mid-day trading on Monday, reaching $116.21. The company had a trading volume of 12,597,288 shares, compared to its average volume of 11,170,283. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. 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 company's 50-day moving average price is $109.90 and its 200-day moving average price is $109.46. The firm has a market cap of $159.89 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.32 and a beta of 0.57.

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.