ABS Direct Equity Fund LLC Purchases 14,497 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• ABS Direct Equity Fund LLC boosted its PDD stake by 33.7% in Q4, buying 14,497 shares to hold 57,530 shares worth about $6.52 million, making PDD 7.8% of the fund and its 2nd largest position.
• Analyst sentiment is mixed with a consensus rating of Hold and a $139.67 average price target; PDD trades near $97.67, with a market cap around $136B and a PE ratio of about 10.4.

ABS Direct Equity Fund LLC grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,530 shares of the company's stock after purchasing an additional 14,497 shares during the quarter. PDD makes up 7.8% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 2nd largest position. ABS Direct Equity Fund LLC's holdings in PDD were worth $6,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Binnacle Investments Inc boosted its stake in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company's stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company's stock valued at $32,000 after purchasing an additional 238 shares during the period. Wexford Capital LP acquired a new stake in shares of PDD in the 3rd quarter valued at about $44,000. Assetmark Inc. boosted its position in shares of PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company's stock valued at $53,000 after purchasing an additional 305 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company's stock valued at $53,000 after purchasing an additional 353 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent research reports. Arete Research upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Friday, April 17th. Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Wall Street Zen cut shares of PDD from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Nomura upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $136.00 target price for the company in a research report on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $139.67.

PDD Trading Up 0.4%

Shares of PDD stock opened at $97.67 on Thursday. The company has a market capitalization of $135.97 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.07. The firm has a fifty day simple moving average of $101.45 and a 200-day simple moving average of $111.62. PDD Holdings Inc. Sponsored ADR has a twelve month low of $95.24 and a twelve month high of $139.41.

PDD Profile

PDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

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