Swiss National Bank Sells 53,100 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Swiss National Bank lessened its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,338,940 shares of the company's stock after selling 53,100 shares during the period. Swiss National Bank owned 0.10% of PDD worth $195,900,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SC US Ttgp LTD. increased its stake in shares of PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company's stock valued at $4,730,242,000 after purchasing an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. boosted its holdings 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 valued at $5,553,962,000 after acquiring an additional 2,292,068 shares in the last quarter. Vanguard Group Inc. boosted 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. FMR LLC boosted its holdings in shares of PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company's stock valued at $1,729,475,000 after acquiring an additional 4,334,186 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of PDD by 5.4% during the 3rd quarter. Invesco Ltd. now owns 7,349,430 shares of the company's stock valued at $720,759,000 after acquiring an additional 376,947 shares in the last quarter. Institutional investors own 29.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Benchmark lifted their target price on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Citigroup lifted their price objective on PDD from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Jefferies Financial Group lifted their price objective on PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Barclays boosted their target price on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group lowered PDD from a "buy" rating to a "neutral" rating and set a $136.00 target price for the company. in a research report on Monday, March 11th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $146.85.

PDD Stock Performance

Shares of PDD stock traded up $2.64 during trading hours on Friday, reaching $140.18. The company had a trading volume of 11,571,098 shares, compared to its average volume of 8,563,272. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93. PDD Holdings Inc. has a one year low of $59.67 and a one year high of $152.99. The firm has a market cap of $184.98 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. The business has a fifty day simple moving average of $121.47 and a 200 day simple moving average of $127.12.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results 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 for 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%. On average, analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

PDD 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.

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