Nipun Capital L.P. Increases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Nipun Capital L.P. increased its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 159.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,800 shares of the company’s stock after buying an additional 25,100 shares during the period. PDD accounts for 2.8% of Nipun Capital L.P.’s holdings, making the stock its 6th largest position. Nipun Capital L.P.’s holdings in PDD were worth $4,829,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PDD. Parallel Advisors LLC raised its stake in PDD by 50.6% in the first quarter. Parallel Advisors LLC now owns 3,815 shares of the company’s stock valued at $452,000 after purchasing an additional 1,281 shares in the last quarter. GAMMA Investing LLC increased its holdings in PDD by 16,268.1% in the 1st quarter. GAMMA Investing LLC now owns 7,693 shares of the company’s stock valued at $910,000 after buying an additional 7,646 shares during the period. Fairtree Asset Management Pty Ltd bought a new position in PDD in the 4th quarter valued at about $5,531,000. California State Teachers Retirement System raised its position in shares of PDD by 7.1% in the 4th quarter. California State Teachers Retirement System now owns 324,354 shares of the company’s stock valued at $31,459,000 after buying an additional 21,507 shares in the last quarter. Finally, 111 Capital bought a new stake in shares of PDD during the 4th quarter worth approximately $508,000. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

Shares of PDD stock opened at $96.73 on Friday. The firm has a market capitalization of $134.66 billion, a price-to-earnings ratio of 9.45, a PEG 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. The business’s 50-day moving average price is $106.92 and its 200-day moving average price is $108.76. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $155.67.

Analysts Set New Price Targets

Several analysts recently issued reports on PDD shares. Nomura reiterated a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday. Macquarie reaffirmed an “outperform” rating on shares of PDD in a research note on Tuesday. Finally, Benchmark decreased their target price on PDD from $160.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.55.

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.