APEIRON CAPITAL Ltd Has $8.63 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

APEIRON CAPITAL Ltd cut its stake in PDD Holdings Inc. (NASDAQ:PDD) by 28.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 89,000 shares of the company’s stock after selling 35,985 shares during the period. PDD accounts for approximately 3.2% of APEIRON CAPITAL Ltd’s investment portfolio, making the stock its 7th biggest holding. APEIRON CAPITAL Ltd’s holdings in PDD were worth $8,632,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd boosted its stake in PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after purchasing an additional 6,460 shares during the period. Lord Abbett & CO. LLC raised its position in shares of PDD by 63.9% in the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after buying an additional 14,905 shares in the last quarter. TB Alternative Assets Ltd. boosted its stake in shares of PDD by 33.7% in the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after buying an additional 43,648 shares during the period. Vontobel Holding Ltd. grew its position in PDD by 13.3% during the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after buying an additional 27,567 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after acquiring an additional 89,853 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PDD shares. Jefferies Financial Group cut their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their target price for the company from $126.00 to $224.00 in a report on Monday, October 7th. Benchmark cut their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Performance

NASDAQ PDD opened at $99.02 on Tuesday. The firm’s fifty day moving average price is $106.36 and its two-hundred day moving average price is $119.44. The stock has a market cap of $136.24 billion, a PE ratio of 9.67, a PEG ratio of 0.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

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.