668,939 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by Triata Capital Ltd

Triata Capital Ltd purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 668,939 shares of the company's stock, valued at approximately $64,880,000. PDD accounts for 26.9% of Triata Capital Ltd's investment portfolio, making the stock its largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of PDD. Norges Bank bought a new position in PDD in the fourth quarter worth about $812,246,000. Sanders Capital LLC bought a new position in shares of PDD in the 4th quarter worth approximately $499,972,000. FMR LLC lifted its stake in shares of PDD by 22.3% in the 4th 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 lifted its stake in shares of PDD by 72.4% in the 4th 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 bought a new stake in shares of PDD during the fourth quarter valued at approximately $246,823,000. Institutional investors own 39.83% of the company's stock.

PDD Stock Up 3.1%

PDD traded up $3.60 during trading on Thursday, hitting $119.80. 6,138,188 shares of the company's stock traded hands, compared to its average volume of 11,050,593. The stock has a market capitalization of $166.78 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.32 and a beta of 0.57. The company's 50 day simple moving average is $109.69 and its two-hundred day simple moving average is $109.38. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PDD. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $127.00 to $165.00 in a report on Monday, May 12th. JPMorgan Chase & Co. increased their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. 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. Finally, Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.00.

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.