AI Squared Management Ltd Has $11.18 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

AI Squared Management Ltd raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 218.5% during the fourth quarter, HoldingsChannel reports. The fund owned 115,300 shares of the company’s stock after purchasing an additional 79,100 shares during the quarter. PDD comprises about 11.5% of AI Squared Management Ltd’s investment portfolio, making the stock its biggest holding. AI Squared Management Ltd’s holdings in PDD were worth $11,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. H&H International Investment LLC boosted its holdings in PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares during the period. Baillie Gifford & Co. boosted its holdings in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. FMR LLC grew its position in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after purchasing an additional 1,654,764 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. increased its holdings in shares of PDD by 60.1% in the fourth quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock worth $241,853,000 after purchasing an additional 935,854 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Jefferies Financial Group cut their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday. Nomura reissued a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Price Performance

PDD stock opened at $128.12 on Tuesday. 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 firm has a market cap of $176.28 billion, a P/E ratio of 12.51, a P/E/G ratio of 0.32 and a beta of 0.69. The firm’s fifty day moving average is $116.40 and its 200 day moving average is $113.63. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

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.