Sivia Capital Partners LLC Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Sivia Capital Partners LLC purchased a new position in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,457 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds have also modified their holdings of PDD. Triasima Portfolio Management inc. bought a new position in shares of PDD during the fourth quarter worth $1,813,000. Hhlr Advisors LTD. boosted its position in shares of PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after acquiring an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of PDD during the fourth quarter worth $13,379,000. Finally, Truist Financial Corp boosted its position in shares of PDD by 12.8% during the fourth quarter. Truist Financial Corp now owns 3,143 shares of the company’s stock worth $460,000 after acquiring an additional 357 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PDD has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Bank of America increased their price objective on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Barclays increased their price objective on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Finally, UBS Group increased their price objective on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $188.33.

PDD Trading Down 0.5 %

Shares of PDD opened at $148.30 on Tuesday. PDD Holdings Inc. has a twelve month low of $66.40 and a twelve month high of $164.69. The company has a market cap of $204.04 billion, a P/E ratio of 19.64, a P/E/G ratio of 0.26 and a beta of 0.64. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $137.24 and its 200-day simple moving average is $134.90.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.44 by $1.19. The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. As a group, analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current year.

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.