Nipun Capital L.P. Has $2.28 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Nipun Capital L.P. lowered its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 35.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,900 shares of the company’s stock after selling 9,100 shares during the period. PDD accounts for about 47.1% of Nipun Capital L.P.’s investment portfolio, making the stock its 2nd largest position. Nipun Capital L.P.’s holdings in PDD were worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of PDD by 20.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock valued at $6,221,000 after purchasing an additional 10,036 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of PDD by 53.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock worth $773,878,000 after acquiring an additional 2,573,065 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of PDD by 54.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock worth $3,103,000 after acquiring an additional 9,206 shares in the last quarter. Banco BTG Pactual S.A. bought a new position in shares of PDD during the 1st quarter valued at approximately $537,000. Finally, Taikang Asset Management Hong Kong Co Ltd increased its position in PDD by 69.7% in the first quarter. Taikang Asset Management Hong Kong Co Ltd now owns 271,977 shares of the company’s stock worth $32,188,000 after purchasing an additional 111,731 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PDD shares. Wall Street Zen raised shares of PDD from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, August 26th. Arete Research set a $130.00 target price on PDD in a research report on Tuesday, December 9th. Finally, Benchmark restated a “buy” rating and set a $160.00 price target (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Five investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, PDD currently has a consensus rating of “Hold” and an average target price of $136.43.

PDD Price Performance

Shares of NASDAQ:PDD opened at $105.00 on Thursday. The business has a 50 day simple moving average of $124.94 and a two-hundred day simple moving average of $118.88. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The firm has a market capitalization of $146.18 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.22 and a beta of 0.07.

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.