Boundless Plain Holdings Ltd Takes $146.81 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Boundless Plain Holdings Ltd purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,294,753 shares of the company’s stock, valued at approximately $146,812,000. PDD accounts for about 46.8% of Boundless Plain Holdings Ltd’s portfolio, making the stock its biggest position.

Other hedge funds have also modified their holdings of the company. Binnacle Investments Inc grew its stake in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Wexford Capital LP bought a new stake in shares of PDD during the third quarter valued at approximately $44,000. Assetmark Inc. grew its stake in shares of PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of PDD by 720.4% during the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 353 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

Shares of PDD stock opened at $94.52 on Friday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $92.57 and a 52-week high of $139.41. The stock has a market cap of $134.54 billion, a PE ratio of 10.06, a PEG ratio of 0.89 and a beta of 0.04. The firm’s 50 day moving average price is $99.73 and its two-hundred day moving average price is $108.02.

Analysts Set New Price Targets

Several analysts have recently commented on PDD shares. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Friday, March 27th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Friday, April 17th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $137.86.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.