Punch Card Management L.P. Makes New $12.61 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Punch Card Management L.P. acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 130,000 shares of the company's stock, valued at approximately $12,609,000. PDD comprises about 4.0% of Punch Card Management L.P.'s portfolio, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group lifted its position in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC lifted its position in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after acquiring an additional 498 shares in the last quarter. Farther Finance Advisors LLC lifted its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

PDD stock traded down $0.23 during mid-day trading on Friday, reaching $117.61. The company had a trading volume of 4,345,160 shares, compared to its average volume of 11,156,615. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week 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. The company has a market cap of $163.73 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.32 and a beta of 0.57. The business has a fifty day simple moving average of $109.83 and a 200 day simple moving average of $109.37.

Analyst Ratings Changes

Several equities research analysts recently commented on PDD shares. JPMorgan Chase & Co. boosted their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Jefferies Financial Group decreased their price target on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Nomura reissued a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PDD 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.