Carrhae Capital LLP Reduces Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Carrhae Capital LLP decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 86.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,220 shares of the company’s stock after selling 387,740 shares during the quarter. PDD comprises about 0.5% of Carrhae Capital LLP’s holdings, making the stock its 21st largest position. Carrhae Capital LLP’s holdings in PDD were worth $5,841,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PDD. Nisa Investment Advisors LLC acquired a new position in PDD in the fourth quarter valued at $39,000. Brooklyn Investment Group increased 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 valued at $51,000 after acquiring an additional 405 shares during the last quarter. Global Retirement Partners LLC boosted 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 worth $53,000 after acquiring an additional 498 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 period. Finally, Avior Wealth Management LLC increased its position in PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after purchasing an additional 169 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the subject of several research reports. Nomura reissued a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday. Jefferies Financial Group cut their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Stock Up 1.2 %

Shares of PDD stock opened at $128.12 on Tuesday. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The business has a 50-day moving average of $116.40 and a 200-day moving average of $113.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $176.28 billion, a PE ratio of 12.51, a P/E/G ratio of 0.32 and a beta of 0.69.

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.