RWC Asset Advisors US LLC Boosts Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

RWC Asset Advisors US LLC increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,923,791 shares of the company's stock after purchasing an additional 40,082 shares during the quarter. PDD accounts for 22.3% of RWC Asset Advisors US LLC's holdings, making the stock its largest holding. RWC Asset Advisors US LLC owned about 0.15% of PDD worth $281,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SC US Ttgp LTD. boosted its position in shares of PDD by 1,414.4% during 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 in the last quarter. Baillie Gifford & Co. boosted its position in shares of PDD by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company's stock worth $5,553,962,000 after acquiring an additional 2,292,068 shares in the last quarter. Vanguard Group Inc. boosted its position 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 worth $2,363,645,000 after acquiring an additional 6,637,418 shares in the last quarter. FMR LLC boosted its position in shares of 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 acquiring an additional 4,334,186 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of PDD by 5.4% during the 3rd quarter. Invesco Ltd. now owns 7,349,430 shares of the company's stock worth $720,759,000 after acquiring an additional 376,947 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays upped their price objective on PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. reduced their target price on PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, March 21st. Citigroup boosted their target price on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Jefferies Financial Group boosted their target price on PDD from $157.00 to $161.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded PDD from a "buy" rating to a "neutral" rating and set a $136.00 target price for the company. in a report on Monday, March 11th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $146.85.

PDD Stock Performance

Shares of PDD stock traded up $3.52 during trading hours on Friday, reaching $129.31. 11,547,606 shares of the company's stock were exchanged, compared to its average volume of 6,706,696. The company has a market cap of $170.64 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67. The company's 50 day moving average is $121.75 and its two-hundred day moving average is $126.67. PDD Holdings Inc. has a 1 year low of $59.67 and a 1 year high of $152.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83.

PDD (NASDAQ:PDD - Get Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping 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 return on equity of 39.10% and a net margin of 24.23%. Equities research analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

About PDD

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.