Genesis Investment Management LLP Sells 958,352 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Genesis Investment Management LLP decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 50.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 943,058 shares of the company's stock after selling 958,352 shares during the period. PDD comprises approximately 27.0% of Genesis Investment Management LLP's holdings, making the stock its largest holding. Genesis Investment Management LLP owned approximately 0.07% of PDD worth $137,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SRS Capital Advisors Inc. raised its position in PDD by 294.4% during 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 in the last quarter. Altshuler Shaham Ltd purchased a new stake in PDD in the fourth quarter worth about $43,000. Turim 21 Investimentos Ltda. bought a new position in shares of PDD during the third quarter valued at approximately $55,000. Captrust Financial Advisors raised its stake in PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company's stock worth $26,000 after buying an additional 331 shares in the last quarter. Finally, CWM LLC lifted its holdings in PDD by 22.7% during the third quarter. CWM LLC now owns 758 shares of the company's stock worth $74,000 after buying an additional 140 shares during the period. 29.07% of the stock is currently owned by institutional investors.

PDD Price Performance

NASDAQ PDD traded down $0.09 during mid-day trading on Wednesday, hitting $113.43. The stock had a trading volume of 4,558,256 shares, compared to its average volume of 8,277,557. The firm's 50 day moving average is $123.16 and its 200 day moving average is $125.74. 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 stock has a market capitalization of $149.68 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.30 and a beta of 0.67. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99.

PDD (NASDAQ:PDD - Get Free Report) last released 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. The company 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%. Equities research analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Benchmark raised their price objective on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. The Goldman Sachs Group lowered PDD from a "buy" rating to a "neutral" rating and set a $136.00 target price on the stock. in a research report on Monday, March 11th. Barclays raised their price target on PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. decreased 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 investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and a consensus target price of $146.85.

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.