Fairtree Asset Management Pty Ltd Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Fairtree Asset Management Pty Ltd bought a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 57,023 shares of the company's stock, valued at approximately $5,531,000. PDD makes up about 5.3% of Fairtree Asset Management Pty Ltd's holdings, making the stock its 2nd biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of PDD. Nisa Investment Advisors LLC purchased a new stake in PDD in the fourth quarter worth approximately $39,000. Global Retirement Partners LLC boosted its stake in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC boosted 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 valued at $54,000 after purchasing an additional 132 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares during the period. Finally, Stephens Consulting LLC purchased a new stake in shares of PDD during the fourth quarter valued at approximately $97,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Trading Down 0.1%

Shares of PDD stock traded down $0.07 during midday trading on Monday, reaching $96.44. 6,199,556 shares of the company's stock traded hands, compared to its average volume of 11,089,451. 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 company has a market cap of $134.26 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The stock has a 50 day moving average of $106.40 and a 200-day moving average of $108.61. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $155.67.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PDD. Macquarie reissued an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. JPMorgan Chase & Co. dropped their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and increased their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Benchmark dropped their price objective on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Finally, Barclays reissued an "equal weight" rating on shares of PDD in a research note on Sunday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.55.

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.