PDD Holdings Inc. Sponsored ADR $PDD Stock Position Trimmed by Sylebra Capital LLC

Key Points

• Sylebra Capital LLC reduced its holdings in PDD Holdings Inc. by 40.8%, selling 163,084 shares during the first quarter, leaving them with 236,611 shares valued at approximately $28 million.
• Other institutional investors, such as Baillie Gifford & Co. and Mirae Asset Global Investments, significantly increased their positions in PDD, highlighting renewed investor interest in the company.
• Despite some price target adjustments by analysts, the consensus rating for PDD remains a Moderate Buy with a target price of $137.82, indicating potential upside for investors.

Sylebra Capital LLC trimmed its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 40.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 236,611 shares of the company's stock after selling 163,084 shares during the period. PDD comprises approximately 1.4% of Sylebra Capital LLC's holdings, making the stock its 15th largest holding. Sylebra Capital LLC's holdings in PDD were worth $28,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PDD. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PDD by 9,469.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after buying an additional 39,263,851 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Hhlr Advisors LTD. increased its position in shares of PDD by 140.4% in the 1st quarter. Hhlr Advisors LTD. now owns 6,562,576 shares of the company's stock worth $776,681,000 after purchasing an additional 3,832,301 shares during the last quarter. Orbis Allan Gray Ltd increased its position in shares of PDD by 2,354.9% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,397,312 shares of the company's stock worth $283,722,000 after purchasing an additional 2,299,659 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its stake in shares of PDD by 78.3% in the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock valued at $596,057,000 after purchasing an additional 2,211,286 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Up 0.8%

Shares of NASDAQ:PDD traded up $1.03 during trading on Tuesday, hitting $126.06. 9,146,589 shares of the company traded hands, compared to its average volume of 9,815,882. The stock has a market capitalization of $175.49 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.48 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The business's fifty day moving average is $115.04 and its 200-day moving average is $111.21.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group set a $146.00 price target on PDD and gave the stock a "buy" rating in a research note on Monday, August 25th. Barclays lifted their target price on PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. lowered their price target on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. New Street Research cut PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research note on Tuesday, August 26th. Finally, Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $137.82.

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.