Los Angeles Capital Management LLC Raises Stake in PDD Holdings Inc. (NASDAQ:PDD)

Los Angeles Capital Management LLC grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,186 shares of the company's stock after purchasing an additional 8,566 shares during the quarter. Los Angeles Capital Management LLC's holdings in PDD were worth $17,438,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Triasima Portfolio Management inc. purchased a new position in PDD during the 4th quarter worth $1,813,000. Parametrica Management Ltd increased its stake in shares of PDD by 67.6% during the third 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. raised its holdings in shares of PDD by 38.0% in the third 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. International Assets Investment Management LLC purchased a new stake in PDD in the fourth quarter worth about $13,379,000. Finally, Nordea Investment Management AB grew its holdings in PDD by 7.2% during the 4th quarter. Nordea Investment Management AB now owns 297,090 shares of the company's stock worth $43,334,000 after acquiring an additional 20,045 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

PDD Stock Up 1.9 %

Shares of PDD traded up $2.64 during mid-day trading on Friday, hitting $140.18. 11,575,696 shares of the company traded hands, compared to its average volume of 8,344,514. The company has a market capitalization of $184.98 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.36 and a beta of 0.67. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $121.72 and a 200 day moving average of $127.36. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion for 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 anticipate that PDD Holdings Inc. will post 7.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PDD shares. Jefferies Financial Group boosted their price target on shares of PDD from $157.00 to $161.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Benchmark upped 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 target on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Barclays upped their price objective on PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. Finally, 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 research 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.