MY.Alpha Management HK Advisors Ltd Has $16.98 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

MY.Alpha Management HK Advisors Ltd lowered its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 52.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,014 shares of the company's stock after selling 193,473 shares during the quarter. PDD makes up 7.5% of MY.Alpha Management HK Advisors Ltd's portfolio, making the stock its 6th biggest holding. MY.Alpha Management HK Advisors Ltd's holdings in PDD were worth $16,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its holdings in shares of PDD by 5.4% during the 4th 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 during the last quarter. Vanguard Group Inc. lifted its position in shares of PDD by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock worth $2,779,986,000 after buying an additional 268,662 shares in the last quarter. FMR LLC boosted its stake in 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 buying an additional 4,673,022 shares during the last quarter. Norges Bank bought a new position in PDD during the fourth quarter valued at approximately $812,246,000. Finally, FIL Ltd grew its holdings in PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after buying an additional 3,350,627 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Trading Up 2.6%

Shares of PDD opened at $119.45 on Wednesday. The company's fifty day simple moving average is $109.82 and its 200-day simple moving average is $109.49. The company has a market cap of $164.35 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.32 and a beta of 0.57. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $127.00 to $165.00 in a research report on Monday. Benchmark reiterated a "buy" rating and set a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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