Triasima Portfolio Management inc. Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Triasima Portfolio Management inc. acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,391 shares of the company's stock, valued at approximately $1,813,000.

A number of other hedge funds have also modified their holdings of the business. SC US Ttgp LTD. grew its stake in PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company's stock worth $4,730,242,000 after acquiring an additional 45,048,300 shares during the period. Vanguard Group Inc. lifted its holdings in shares of PDD by 38.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company's stock valued at $2,363,645,000 after acquiring an additional 6,637,418 shares in the last quarter. Norges Bank acquired a new position in shares of PDD during the 4th quarter valued at $501,089,000. Baillie Gifford & Co. increased its stake in PDD by 14.4% during the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company's stock worth $3,497,977,000 after buying an additional 4,501,126 shares during the period. Finally, FMR LLC increased its stake in PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company's stock worth $1,729,475,000 after buying an additional 4,334,186 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PDD. Jefferies Financial Group boosted their price objective on shares of PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a "buy" rating to a "neutral" rating and set a $136.00 price objective for the company. in a research report on Monday, March 11th. Benchmark boosted their target price on shares of PDD from $215.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. 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 note on Thursday, March 21st. Finally, Barclays boosted their target price on shares of PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.85.

PDD Stock Down 4.6 %

PDD stock traded down $5.63 during trading hours on Friday, hitting $115.50. The company had a trading volume of 8,916,844 shares, compared to its average volume of 9,754,205. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. The firm has a market capitalization of $152.41 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 0.31 and a beta of 0.67. PDD Holdings Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. The firm's fifty day moving average is $123.54 and its 200-day moving average is $125.29.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.81. The business had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. On average, research analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

PDD Company 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.