Bienville Capital Management LLC Increases Stake in PDD Holdings Inc. (NASDAQ:PDD)

Bienville Capital Management LLC raised its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 729.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,800 shares of the company's stock after purchasing an additional 90,400 shares during the quarter. PDD accounts for approximately 2.4% of Bienville Capital Management LLC's portfolio, making the stock its 14th largest position. Bienville Capital Management LLC's holdings in PDD were worth $9,971,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group boosted its stake in shares of PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC grew its position 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 increased its stake in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PDD shares. Nomura reissued 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. Jefferies Financial Group cut their price target on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Citigroup reiterated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Stock Performance

PDD stock traded up $4.95 during midday trading on Friday, hitting $110.92. 9,141,885 shares of the company's stock were exchanged, compared to its average volume of 11,185,921. The firm's 50 day simple moving average is $110.44 and its 200 day simple moving average is $109.96. 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 quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $152.61 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth 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.