PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Sylebra Capital LLC

Sylebra Capital LLC raised its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 33.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 656,751 shares of the company's stock after buying an additional 164,585 shares during the quarter. PDD makes up approximately 1.8% of Sylebra Capital LLC's investment portfolio, making the stock its 13th largest position. Sylebra Capital LLC's holdings in PDD were worth $63,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PDD. Two Sigma Advisers LP grew its holdings in shares of PDD by 550.5% during the 4th quarter. Two Sigma Advisers LP now owns 61,800 shares of the company's stock worth $5,994,000 after purchasing an additional 52,300 shares during the period. Temasek Holdings Private Ltd grew its holdings in shares of PDD by 842.5% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,046,802 shares of the company's stock worth $101,529,000 after purchasing an additional 935,741 shares during the period. Tidal Investments LLC grew its holdings 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 during the period. Triata Capital Ltd purchased a new position in shares of PDD during the 4th quarter worth $64,880,000. Finally, Scion Asset Management LLC purchased a new position in shares of PDD during the 4th quarter worth $7,274,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PDD has been the subject of a number of research analyst reports. Nomura reiterated a "neutral" rating and set a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $165.00 in a report on Monday, May 12th. Jefferies Financial Group lowered their target price on PDD from $156.00 to $121.00 and set a "buy" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Price Performance

Shares of NASDAQ PDD traded down $3.88 during trading on Wednesday, reaching $99.10. The company had a trading volume of 9,035,964 shares, compared to its average volume of 10,011,849. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $155.67. The stock has a market capitalization of $137.96 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The stock has a 50-day moving average price of $108.66 and a two-hundred day moving average price of $109.11. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.