AI Squared Management Ltd Has $11.18 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

AI Squared Management Ltd increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 218.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 115,300 shares of the company’s stock after buying an additional 79,100 shares during the quarter. PDD comprises about 11.5% of AI Squared Management Ltd’s portfolio, making the stock its biggest position. AI Squared Management Ltd’s holdings in PDD were worth $11,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd grew its holdings in shares of PDD by 1,218.9% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after buying an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after acquiring an additional 14,905 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new position in PDD during the 3rd quarter valued at about $74,221,000. Headwater Capital Co Ltd purchased a new stake in shares of PDD in the fourth quarter worth approximately $9,699,000. Finally, Baillie Gifford & Co. raised its stake in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

PDD has been the topic of several analyst reports. Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday. Benchmark reissued a “buy” rating and set a $160.00 price target on shares of PDD in a research report on Friday. Jefferies Financial Group reduced their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, Nomura reissued a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Price Performance

PDD stock opened at $128.12 on Tuesday. 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 business’s 50 day simple moving average is $116.40 and its 200 day simple moving average is $113.63. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a market cap of $176.28 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.32 and a beta of 0.69.

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.