PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Nipun Capital L.P.

Nipun Capital L.P. boosted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 159.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,800 shares of the company's stock after purchasing an additional 25,100 shares during the period. PDD comprises about 2.8% of Nipun Capital L.P.'s investment portfolio, making the stock its 6th biggest position. Nipun Capital L.P.'s holdings in PDD were worth $4,829,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of PDD in the fourth quarter valued at $812,246,000. Sanders Capital LLC bought a new position in PDD during the fourth quarter valued at $499,972,000. FMR LLC lifted its position in PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the last quarter. FIL Ltd grew its stake in shares of PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after buying an additional 3,350,627 shares in the last quarter. Finally, Capital International Investors bought a new stake in shares of PDD in the 4th quarter worth about $246,823,000. Institutional investors own 39.83% of the company's stock.

PDD Stock Up 2.0%

Shares of PDD stock traded up $1.89 during trading on Tuesday, reaching $98.33. The company's stock had a trading volume of 7,562,669 shares, compared to its average volume of 11,075,432. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $155.67. The company has a 50-day simple moving average of $106.40 and a two-hundred day simple moving average of $108.61. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $136.89 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 0.32 and a beta of 0.57.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PDD shares. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. 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. JPMorgan Chase & Co. cut their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Benchmark cut their price objective on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group set a $121.00 target price on PDD and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.