Sylebra Capital LLC Acquires 332,211 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Sylebra Capital LLC raised its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 207.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 492,166 shares of the company’s stock after buying an additional 332,211 shares during the quarter. PDD accounts for about 2.2% of Sylebra Capital LLC’s investment portfolio, making the stock its 11th largest position. Sylebra Capital LLC’s holdings in PDD were worth $66,349,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. H&H International Investment LLC grew its position in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after buying an additional 3,804,600 shares in the last quarter. Acadian Asset Management LLC raised its holdings in PDD by 107.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after acquiring an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd lifted its position in shares of PDD by 49.8% in the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after acquiring an additional 1,788,076 shares during the period. Finally, FMR LLC grew its holdings in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Jefferies Financial Group decreased their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and cut their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Sanford C. Bernstein lowered their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Trading Up 10.5 %

PDD opened at $110.33 on Tuesday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a market cap of $151.80 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. 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 firm has a 50 day simple moving average of $120.76 and a 200 day simple moving average of $126.29.

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.