Polymer Capital Management HK LTD Purchases 14,100 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Polymer Capital Management HK LTD boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 11.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 141,155 shares of the company’s stock after buying an additional 14,100 shares during the quarter. PDD accounts for 2.4% of Polymer Capital Management HK LTD’s holdings, making the stock its 8th largest position. Polymer Capital Management HK LTD’s holdings in PDD were worth $13,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PDD. Jones Financial Companies Lllp lifted its position in shares of PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after acquiring an additional 97 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of 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 in the last quarter. New York Life Investment Management LLC boosted its position in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after buying an additional 139 shares during the period. Cibc World Markets Corp grew its holdings in shares of PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after buying an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after buying an additional 249 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Trading Down 8.3 %

PDD stock opened at $104.21 on Friday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company’s fifty day moving average price is $119.14 and its two-hundred day moving average price is $114.99. The company has a market capitalization of $143.38 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PDD shares. JPMorgan Chase & Co. raised their price objective on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Benchmark restated a “buy” rating and set a $160.00 price target on shares of PDD in a report on Friday, March 21st. Jefferies Financial Group dropped their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Nomura reissued a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Company 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.