Ninety One UK Ltd purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,610,734 shares of the company's stock, valued at approximately $235,666,000. Ninety One UK Ltd owned 0.12% of PDD at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. acquired a new position in shares of PDD during the 4th quarter valued at $1,813,000. Parametrica Management Ltd raised its holdings in shares of PDD by 67.6% during the 3rd quarter. Parametrica Management Ltd now owns 41,400 shares of the company's stock valued at $4,060,000 after buying an additional 16,700 shares during the period. Vanguard Group Inc. lifted its position in PDD by 38.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company's stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares in the last quarter. International Assets Investment Management LLC purchased a new position in PDD in the 4th quarter worth approximately $13,379,000. Finally, Nordea Investment Management AB raised its stake in shares of PDD by 7.2% during the fourth quarter. Nordea Investment Management AB now owns 297,090 shares of the company's stock valued at $43,334,000 after purchasing an additional 20,045 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.
PDD Stock Performance
PDD stock traded up $0.27 during trading on Thursday, hitting $113.70. 5,134,454 shares of the company's stock traded hands, compared to its average volume of 8,226,745. The stock has a market capitalization of $150.04 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99. The stock has a fifty day moving average price of $122.85 and a two-hundred day moving average price of $125.66. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03.
PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates 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%. As a group, equities analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently weighed in on PDD shares. JPMorgan Chase & Co. decreased their target price on shares of PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, March 21st. Benchmark boosted their price target on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a "buy" rating to a "neutral" rating and set a $136.00 price objective on the stock. in a report on Monday, March 11th. Jefferies Financial Group increased their target price on PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Barclays lifted their price target on shares of PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $146.85.
Read Our Latest Stock Report on PDD
PDD Profile
(
Free Report)
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.
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