Sylebra Capital LLC Lowers Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Sylebra Capital LLC cut its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 399,695 shares of the company's stock after selling 92,471 shares during the period. PDD comprises about 1.5% of Sylebra Capital LLC's portfolio, making the stock its 16th largest position. Sylebra Capital LLC's holdings in PDD were worth $38,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its position in PDD by 56.3% in the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock valued at $91,898,000 after purchasing an additional 341,300 shares in the last quarter. Baillie Gifford & Co. grew its position in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in PDD in the fourth quarter valued at $4,685,000. Alberta Investment Management Corp grew its position in PDD by 12.6% in the fourth quarter. Alberta Investment Management Corp now owns 190,060 shares of the company's stock valued at $18,434,000 after purchasing an additional 21,302 shares in the last quarter. Finally, Synergy Asset Management LLC grew its position in PDD by 138.8% in the fourth quarter. Synergy Asset Management LLC now owns 205,740 shares of the company's stock valued at $19,955,000 after purchasing an additional 119,580 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the stock a "buy" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $112.00 price objective on shares of PDD in a research note on Wednesday. Macquarie reiterated an "outperform" rating on shares of PDD in a research note on Tuesday. China Renaissance restated a "hold" rating and issued a $107.00 target price on shares of PDD in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Stock Down 1.6%

NASDAQ PDD traded down $1.56 on Friday, hitting $96.73. 17,167,316 shares of the company were exchanged, compared to its average volume of 11,094,873. The company has a market cap of $134.66 billion, a PE ratio of 9.45, a PEG ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $155.67. The stock has a fifty day moving average of $106.92 and a 200-day moving average of $108.79. 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.