PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Sylebra Capital LLC

Sylebra Capital LLC raised its position in PDD Holdings Inc. (NASDAQ:PDD) by 33.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 656,751 shares of the company’s stock after purchasing an additional 164,585 shares during the period. PDD comprises approximately 1.8% of Sylebra Capital LLC’s portfolio, making the stock its 13th biggest holding. Sylebra Capital LLC’s holdings in PDD were worth $63,698,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Two Sigma Advisers LP lifted its position in shares of PDD by 550.5% in the fourth quarter. Two Sigma Advisers LP now owns 61,800 shares of the company’s stock valued at $5,994,000 after acquiring an additional 52,300 shares in the last quarter. Temasek Holdings Private Ltd lifted its position in shares of PDD by 842.5% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,046,802 shares of the company’s stock valued at $101,529,000 after acquiring an additional 935,741 shares in the last quarter. Tidal Investments LLC lifted its position in shares of PDD by 47.2% in the fourth quarter. Tidal Investments LLC now owns 104,762 shares of the company’s stock valued at $10,161,000 after acquiring an additional 33,589 shares in the last quarter. Triata Capital Ltd purchased a new stake in shares of PDD in the fourth quarter valued at $64,880,000. Finally, Scion Asset Management LLC purchased a new stake in shares of PDD in the fourth quarter valued at $7,274,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the topic of several recent research reports. Nomura restated a “neutral” rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Citigroup upgraded PDD from a “neutral” rating to a “buy” rating and upped their price objective for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.20.

PDD Stock Performance

NASDAQ PDD opened at $119.80 on Friday. The business’s 50-day moving average price is $109.51 and its 200 day moving average price is $109.36. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $164.69. The company has a market capitalization of $166.78 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.