FACT Capital LP Lowers Holdings in PDD Holdings Inc. (NASDAQ:PDD)

FACT Capital LP reduced its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,338 shares of the company’s stock after selling 7,745 shares during the period. PDD comprises about 5.4% of FACT Capital LP’s investment portfolio, making the stock its 8th biggest position. FACT Capital LP’s holdings in PDD were worth $12,351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in PDD in the 4th quarter valued at about $812,246,000. Sanders Capital LLC bought a new stake in shares of PDD during the fourth quarter valued at approximately $499,972,000. FMR LLC increased its holdings in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares in the last quarter. FIL Ltd raised its position in PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the last quarter. Finally, Capital International Investors bought a new position in PDD in the 4th quarter worth approximately $246,823,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the topic of a number of recent research reports. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Nomura reaffirmed a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

PDD Stock Down 0.9%

PDD stock opened at $117.38 on Wednesday. The firm has a market capitalization of $163.41 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.32 and a beta of 0.57. The company’s 50 day simple moving average is $109.82 and its 200 day simple moving average is $109.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two 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.