Himension Capital Singapore PTE. LTD. Boosts Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Himension Capital Singapore PTE. LTD. raised its position in PDD Holdings Inc. (NASDAQ:PDD) by 159.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,850 shares of the company’s stock after purchasing an additional 66,819 shares during the period. PDD comprises about 0.7% of Himension Capital Singapore PTE. LTD.’s investment portfolio, making the stock its 17th largest position. Himension Capital Singapore PTE. LTD.’s holdings in PDD were worth $10,557,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in PDD during the fourth quarter worth approximately $39,000. Brooklyn Investment Group lifted its stake in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC grew its position in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC increased its stake in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup restated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Nomura restated a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Price Performance

PDD stock opened at $104.21 on Friday. The firm has a market cap of $143.38 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a 50-day simple moving average of $119.14 and a 200-day simple moving average of $114.99.

PDD 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.