FACT Capital LP Sells 7,745 Shares of PDD Holdings Inc. (NASDAQ:PDD)

FACT Capital LP lessened its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 127,338 shares of the company’s stock after selling 7,745 shares during the period. PDD comprises approximately 5.4% of FACT Capital LP’s holdings, making the stock its 8th largest holding. FACT Capital LP’s holdings in PDD were worth $12,351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Atomi Financial Group Inc. raised its stake in shares of PDD by 6.1% in the 4th quarter. Atomi Financial Group Inc. now owns 6,778 shares of the company’s stock valued at $657,000 after purchasing an additional 387 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of PDD during the fourth quarter worth about $39,000. Exchange Traded Concepts LLC acquired a new stake in PDD in the 4th quarter valued at approximately $1,833,000. RV Capital AG lifted its stake in PDD by 8.2% in the 4th quarter. RV Capital AG now owns 345,489 shares of the company’s stock valued at $33,509,000 after acquiring an additional 26,100 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in PDD by 33.7% during the 4th quarter. Blue Trust Inc. now owns 6,132 shares of the company’s stock worth $595,000 after acquiring an additional 1,547 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Down 0.9%

Shares of NASDAQ:PDD opened at $117.38 on Wednesday. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $163.41 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a 50-day simple moving average of $109.82 and a 200 day simple moving average of $109.33.

Analyst Ratings Changes

PDD has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Nomura reaffirmed a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group cut their price target 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. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. 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 research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.00.

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.