PDD Holdings Inc. (NASDAQ:PDD) is PARUS FINANCE UK Ltd’s 5th Largest Position

PARUS FINANCE UK Ltd lessened its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.2% during the fourth quarter, HoldingsChannel reports. The firm owned 219,714 shares of the company’s stock after selling 9,654 shares during the quarter. PDD accounts for approximately 6.7% of PARUS FINANCE UK Ltd’s investment portfolio, making the stock its 5th largest holding. PARUS FINANCE UK Ltd’s holdings in PDD were worth $21,310,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PDD. Nisa Investment Advisors LLC purchased a new stake in PDD during the fourth quarter worth approximately $39,000. Brooklyn Investment Group boosted its stake in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC grew its stake in shares of PDD by 939.6% during the fourth 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 increased its position in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $120.45 on Friday. The firm has a market capitalization of $165.72 billion, a PE ratio of 11.76, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $118.16 and a 200 day moving average price of $114.18. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

Analyst Ratings Changes

A number of brokerages have issued reports on PDD. JPMorgan Chase & Co. upped their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Jefferies Financial Group cut their target price 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 Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Nomura reaffirmed a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PDD has an average rating of “Moderate Buy” and an average price target of $169.91.

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.