GF Fund Management CO. LTD. Acquires New Position in PDD Holdings Inc. (NASDAQ:PDD)

GF Fund Management CO. LTD. purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,324,803 shares of the company's stock, valued at approximately $128,493,000. PDD accounts for approximately 2.8% of GF Fund Management CO. LTD.'s holdings, making the stock its 9th largest holding. GF Fund Management CO. LTD. owned approximately 0.10% of PDD as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Vise Technologies Inc. lifted its position in shares of PDD by 304.4% during the 4th quarter. Vise Technologies Inc. now owns 9,280 shares of the company's stock worth $900,000 after purchasing an additional 6,985 shares during the last quarter. Sylebra Capital LLC lifted its position in PDD by 33.4% in the fourth quarter. Sylebra Capital LLC now owns 656,751 shares of the company's stock valued at $63,698,000 after acquiring an additional 164,585 shares during the last quarter. Two Sigma Advisers LP lifted its position in PDD by 550.5% in the fourth quarter. Two Sigma Advisers LP now owns 61,800 shares of the company's stock valued at $5,994,000 after acquiring an additional 52,300 shares during the last quarter. Temasek Holdings Private Ltd lifted its position in PDD by 842.5% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,046,802 shares of the company's stock valued at $101,529,000 after acquiring an additional 935,741 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in PDD by 47.2% in the fourth quarter. Tidal Investments LLC now owns 104,762 shares of the company's stock valued at $10,161,000 after acquiring an additional 33,589 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDD has been the subject of a number of research reports. Nomura reissued a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Jefferies Financial Group dropped their price target on shares of PDD from $156.00 to $121.00 and set a "buy" rating on the stock in a research note on Tuesday. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and upped their target price for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. Finally, Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.11.

PDD Price Performance

Shares of NASDAQ PDD traded down $16.26 on Tuesday, hitting $102.98. The company's stock had a trading volume of 50,968,021 shares, compared to its average volume of 11,049,396. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $160.00. The company has a market capitalization of $143.36 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a 50 day moving average of $109.22 and a 200-day moving average of $109.16.

PDD 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.