Oasis Management Co Ltd. Purchases New Shares in PDD Holdings Inc. (NASDAQ:PDD)

Oasis Management Co Ltd. acquired a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,355 shares of the company's stock, valued at approximately $3,720,000. PDD makes up about 0.8% of Oasis Management Co Ltd.'s investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Jones Financial Companies Lllp increased its holdings in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after acquiring an additional 97 shares during the period. Farther Finance Advisors LLC raised its position in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares in the last quarter. New York Life Investment Management LLC boosted its stake in PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after buying an additional 139 shares during the period. Cibc World Markets Corp grew its position in PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after buying an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Price Performance

PDD opened at $116.38 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock's 50 day simple moving average is $109.82 and its 200 day simple moving average is $109.42. The firm has a market cap of $160.12 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69.

Wall Street Analysts Forecast Growth

PDD has been the subject of several recent analyst reports. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. JPMorgan Chase & Co. boosted 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. Jefferies Financial Group lowered their price objective on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and upped their target price for the stock from $127.00 to $165.00 in a research report on Monday. Finally, Nomura reissued a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. 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. According to MarketBeat, PDD presently has an average rating of "Moderate Buy" and a consensus target price 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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