Sumitomo Mitsui Trust Holdings Inc. Has $214.91 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,468,849 shares of the company's stock after buying an additional 22,243 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.11% of PDD worth $214,907,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PDD. Triasima Portfolio Management inc. purchased a new stake in PDD during the fourth quarter worth $1,813,000. Louisiana State Employees Retirement System acquired a new position in shares of PDD in the fourth quarter worth $7,769,000. WCM Investment Management LLC acquired a new position in shares of PDD in the fourth quarter worth $300,000. Simplicity Solutions LLC acquired a new position in shares of PDD in the fourth quarter worth $686,000. Finally, NewEdge Wealth LLC acquired a new position in shares of PDD in the fourth quarter worth $295,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PDD. Citigroup upped their target price on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. dropped their price target on PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, March 21st. Barclays upped their price target on PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. Jefferies Financial Group upped their price target on PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Finally, Benchmark upped their target price on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $146.85.

PDD Stock Performance

PDD traded down $1.21 during trading hours on Monday, hitting $114.29. The company's stock had a trading volume of 6,797,051 shares, compared to its average volume of 8,370,434. The company has a 50-day simple moving average of $123.54 and a 200 day simple moving average of $125.50. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $150.82 billion, a PE ratio of 19.87, a PEG ratio of 0.30 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.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, sell-side analysts expect that PDD Holdings Inc. will post 7.85 EPS 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.