PDD Holdings Inc. (NASDAQ:PDD) Stake Lifted by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 15.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,887 shares of the company's stock after purchasing an additional 26,739 shares during the quarter. PDD makes up approximately 5.5% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 8th largest position. TB Alternative Assets Ltd.'s holdings in PDD were worth $23,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after acquiring an additional 498 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after acquiring an additional 97 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of PDD in the fourth quarter valued at about $126,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Up 1.3%

Shares of PDD traded up $1.27 during mid-day trading on Friday, hitting $100.60. 5,472,020 shares of the company traded hands, compared to its average volume of 11,108,819. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $155.67. 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 capitalization of $140.05 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.32 and a beta of 0.42. The business has a 50 day moving average of $104.65 and a 200 day moving average of $108.18.

Wall Street Analysts Forecast Growth

Several research firms have commented on PDD. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Benchmark decreased their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Finally, Nomura reissued a "neutral" rating and set a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Company 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.