Nipun Capital L.P. Has $1.52 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Nipun Capital L.P. reduced its position in PDD Holdings Inc. (NASDAQ:PDD) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,700 shares of the company’s stock after selling 1,200 shares during the quarter. PDD makes up about 1.0% of Nipun Capital L.P.’s investment portfolio, making the stock its 7th largest holding. Nipun Capital L.P.’s holdings in PDD were worth $1,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PDD. Prospera Private Wealth LLC bought a new position in shares of PDD in the third quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new position in shares of PDD in the third quarter worth $29,000. Nisa Investment Advisors LLC purchased a new position in shares of PDD in the fourth quarter worth $39,000. Brooklyn Investment Group lifted its holdings in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PDD. Jefferies Financial Group lowered their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Benchmark lowered their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Trading Up 3.2 %

Shares of PDD opened at $122.54 on Monday. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a market cap of $168.60 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.32 and a beta of 0.69. 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 company’s fifty day simple moving average is $112.87 and its 200-day simple moving average is $112.24.

PDD 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.