14B Captial Management LP Makes New $5.80 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• 14B Capital Management LP has made a new investment by purchasing 49,000 shares of PDD Holdings Inc., valued at approximately $5.8 million, making it 2.4% of their total holdings.
• Analysts have set new price targets for PDD, with Barclays and Macquarie both increasing their targets to $165, while JPMorgan lowered theirs to $105.
• PDD stock opened at $121.69 on Wednesday, reflecting a market cap of $169.41 billion and a PE ratio of 13.20.

14B Captial Management LP acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 49,000 shares of the company's stock, valued at approximately $5,799,000. PDD accounts for 2.4% of 14B Captial Management LP's portfolio, making the stock its 12th biggest position.

A number of other institutional investors have also made changes to their positions in the business. Hollencrest Capital Management bought a new stake in PDD during the 1st quarter worth about $26,000. IFP Advisors Inc increased its stake in PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after purchasing an additional 290 shares in the last quarter. Goldstream Capital Management Ltd bought a new stake in PDD in the first quarter valued at approximately $102,000. OneDigital Investment Advisors LLC bought a new stake in PDD during the 1st quarter worth approximately $204,000. Finally, Gunderson Capital Management Inc. bought a new stake in PDD during the 1st quarter worth approximately $218,000. 39.83% of the stock is owned by institutional investors.

PDD Trading Up 0.7%

NASDAQ:PDD traded up $0.81 during mid-day trading on Friday, hitting $124.68. 8,490,302 shares of the company's stock were exchanged, compared to its average volume of 9,490,154. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The company has a 50 day simple moving average of $114.22 and a 200-day simple moving average of $111.24. The firm has a market capitalization of $173.57 billion, a P/E ratio of 13.52, a PEG ratio of 1.47 and a beta of 0.46.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of recent research reports. China Renaissance reaffirmed a "hold" rating and set a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Zacks Research raised PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Citigroup reissued a "buy" rating on shares of PDD in a research report on Monday, August 25th. Bank of America increased their price objective on shares of PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.82.

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.