Yousif Capital Management LLC Raises Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Yousif Capital Management LLC grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,142 shares of the company's stock after buying an additional 3,019 shares during the period. Yousif Capital Management LLC's holdings in PDD were worth $4,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in shares of PDD by 56.3% in the 4th quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock valued at $91,898,000 after acquiring an additional 341,300 shares in the last quarter. Baillie Gifford & Co. raised its stake in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in PDD during the fourth quarter valued at approximately $4,685,000. Alberta Investment Management Corp lifted its position in PDD by 12.6% during the fourth quarter. Alberta Investment Management Corp now owns 190,060 shares of the company's stock valued at $18,434,000 after purchasing an additional 21,302 shares during the last quarter. Finally, Myriad Asset Management US LP purchased a new position in PDD in the 1st quarter worth approximately $4,496,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on PDD shares. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Nomura restated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Finally, China Renaissance restated a "hold" rating and issued a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and an average price target of $144.55.

PDD Trading Down 2.8%

Shares of NASDAQ PDD traded down $2.85 during trading hours on Friday, hitting $100.58. The company's stock had a trading volume of 7,187,561 shares, compared to its average volume of 11,057,352. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $155.67. The stock has a market cap of $140.02 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.32 and a beta of 0.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50-day simple moving average of $104.13 and a 200-day simple moving average of $108.16.

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.