Tiger Pacific Capital LP Has $9.44 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Tiger Pacific Capital LP lowered its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 70.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,372 shares of the company's stock after selling 227,800 shares during the quarter. PDD makes up approximately 2.5% of Tiger Pacific Capital LP's portfolio, making the stock its 7th biggest position. Tiger Pacific Capital LP's holdings in PDD were worth $9,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of PDD during the fourth quarter valued at approximately $812,246,000. Sanders Capital LLC purchased a new stake in shares of PDD during the fourth quarter valued at approximately $499,972,000. FMR LLC boosted its stake in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. FIL Ltd boosted its stake in shares of PDD by 72.4% during the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after purchasing an additional 3,350,627 shares during the period. Finally, Capital International Investors purchased a new stake in shares of PDD during the fourth quarter valued at approximately $246,823,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Down 1.0%

PDD traded down $1.18 during trading on Wednesday, reaching $116.20. The stock had a trading volume of 4,791,207 shares, compared to its average volume of 11,069,449. The stock's 50 day moving average is $109.82 and its two-hundred day moving average is $109.33. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $161.77 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of analyst reports. Nomura reissued a "neutral" rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Citigroup upgraded 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. JPMorgan Chase & Co. upped their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Benchmark restated a "buy" rating and set a $160.00 target price on shares of PDD in a report on Friday, March 21st. Finally, Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.00.

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.