Blue Creek Capital Management Ltd Sells 84,279 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Blue Creek Capital Management Ltd lessened its position in PDD Holdings Inc. (NASDAQ:PDD) by 29.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 203,221 shares of the company’s stock after selling 84,279 shares during the period. PDD comprises about 21.4% of Blue Creek Capital Management Ltd’s portfolio, making the stock its biggest holding. Blue Creek Capital Management Ltd’s holdings in PDD were worth $29,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its holdings in PDD by 294.4% in the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares during the period. Turim 21 Investimentos Ltda. acquired a new position in shares of PDD in the 3rd quarter valued at approximately $55,000. CWM LLC raised its position in shares of PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after buying an additional 140 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of PDD in the 4th quarter valued at approximately $144,000. Finally, Shen Neil Nanpeng acquired a new position in shares of PDD in the 3rd quarter valued at approximately $175,000. Institutional investors own 29.07% of the company’s stock.

PDD Trading Up 11.1 %

NASDAQ PDD traded up $13.83 on Thursday, hitting $138.32. The company’s stock had a trading volume of 15,854,340 shares, compared to its average volume of 8,455,497. The company’s 50-day moving average is $121.35 and its 200 day moving average is $127.05. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99. The firm has a market cap of $182.53 billion, a PE ratio of 22.95, a PEG ratio of 0.32 and a beta of 0.67.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The company had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. As a group, analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PDD. Citigroup boosted their target price on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Barclays upped their price objective on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Benchmark upped their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group upped their price objective 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average target price of $146.85.

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.