150,735 Shares in PDD Holdings Inc. (NASDAQ:PDD) Bought by AI Squared Management Ltd

AI Squared Management Ltd purchased a new position in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 150,735 shares of the company’s stock, valued at approximately $22,054,000. PDD comprises about 28.1% of AI Squared Management Ltd’s holdings, making the stock its largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in PDD. SRS Capital Advisors Inc. increased its stake in PDD by 294.4% during the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. Turim 21 Investimentos Ltda. bought a new stake in PDD during the third quarter valued at $55,000. AJOVista LLC bought a new stake in PDD during the fourth quarter valued at $103,000. Tennessee Valley Asset Management Partners bought a new stake in PDD during the fourth quarter valued at $144,000. Finally, Shen Neil Nanpeng bought a new stake in PDD during the third quarter valued at $175,000. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

PDD stock traded down $2.70 during midday trading on Thursday, reaching $136.46. 4,449,142 shares of the stock were exchanged, compared to its average volume of 8,436,522. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99. The firm has a market cap of $180.07 billion, a PE ratio of 24.08, a PEG ratio of 0.36 and a beta of 0.67. The company’s fifty day moving average is $122.15 and its 200-day moving average is $128.17.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The company had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. On average, sell-side analysts forecast that PDD Holdings Inc. will post 7.85 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Jefferies Financial Group upped their price target on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Citigroup upped their price objective on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Benchmark upped their price target on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PDD has an average rating of “Moderate Buy” and a consensus target price of $146.85.

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.