Triata Capital Ltd Invests $64.88 Million in PDD Holdings Inc. (NASDAQ:PDD)

Triata Capital Ltd purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 668,939 shares of the company’s stock, valued at approximately $64,880,000. PDD comprises approximately 26.9% of Triata Capital Ltd’s holdings, making the stock its largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PDD. Norges Bank purchased a new stake in PDD in the 4th quarter valued at approximately $812,246,000. Sanders Capital LLC purchased a new stake in PDD in the 4th quarter valued at approximately $499,972,000. FMR LLC lifted its stake in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after buying an additional 4,673,022 shares in the last quarter. FIL Ltd raised its holdings in PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock valued at $773,847,000 after acquiring an additional 3,350,627 shares during the last quarter. Finally, Capital International Investors acquired a new position in PDD in the 4th quarter valued at $246,823,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PDD. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Nomura reiterated a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group cut their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, Citigroup upgraded PDD from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

PDD Stock Down 0.2%

Shares of NASDAQ PDD opened at $117.61 on Friday. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The company has a market cap of $163.73 billion, a P/E ratio of 11.49, a P/E/G 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 stock has a fifty day moving average price of $109.83 and a 200 day moving average price of $109.37.

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.