GAMMA Investing LLC Has $910,000 Stake in PDD Holdings Inc. (NASDAQ:PDD)

GAMMA Investing LLC grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 16,268.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,693 shares of the company’s stock after purchasing an additional 7,646 shares during the period. GAMMA Investing LLC’s holdings in PDD were worth $910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PDD. Norges Bank acquired a new stake in shares of PDD during the 4th quarter valued at about $812,246,000. Sanders Capital LLC acquired a new position in PDD in the fourth quarter valued at about $499,972,000. FMR LLC raised its stake in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares during the last quarter. FIL Ltd raised its stake in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after acquiring an additional 3,350,627 shares during the last quarter. Finally, Capital International Investors bought a new position in shares of PDD in the fourth quarter worth about $246,823,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

PDD opened at $102.79 on Tuesday. The company has a market capitalization of $143.10 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.32 and a beta of 0.42. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $104.43 and a 200-day moving average price of $108.34. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month high of $155.67.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup raised shares of PDD from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. China Renaissance restated a “hold” rating and set a $107.00 price objective on shares of PDD in a report on Wednesday, May 28th. Nomura restated a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group set a $121.00 price target on shares of PDD and gave the company a “buy” rating in a report on Tuesday, May 27th. Finally, Benchmark reduced their target price on shares of PDD from $160.00 to $128.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.55.

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.