Two Sigma Advisers LP Has $5.99 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Two Sigma Advisers LP lifted its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 550.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,800 shares of the company's stock after purchasing an additional 52,300 shares during the period. Two Sigma Advisers LP's holdings in PDD were worth $5,994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDD. Temasek Holdings Private Ltd increased its position in shares of 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. Tidal Investments LLC raised its stake in shares of PDD by 47.2% during the 4th quarter. Tidal Investments LLC now owns 104,762 shares of the company's stock worth $10,161,000 after purchasing an additional 33,589 shares in the last quarter. Triata Capital Ltd acquired a new stake in shares of PDD in the 4th quarter valued at approximately $64,880,000. Scion Asset Management LLC bought a new position in shares of PDD in the fourth quarter valued at $7,274,000. Finally, Siemens Fonds Invest GmbH acquired a new position in PDD during the fourth quarter worth $192,000. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PDD shares. Benchmark cut their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and upped their target price for the company from $127.00 to $165.00 in a report on Monday, May 12th. Jefferies Financial Group lowered their price target on PDD from $156.00 to $121.00 and set a "buy" rating on the stock in a research report on Tuesday. China Renaissance reissued a "hold" rating and set a $107.00 price target on shares of PDD in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $144.55.

PDD Price Performance

Shares of NASDAQ:PDD traded down $5.10 during trading on Wednesday, hitting $97.88. 18,673,489 shares of the company were exchanged, compared to its average volume of 11,080,271. The business's 50 day moving average is $108.66 and its 200-day moving average is $109.11. The company has a market capitalization of $136.26 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $160.00.

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.