USA Financial Formulas Buys 6,211 Shares of PDD Holdings Inc. (NASDAQ:PDD)

USA Financial Formulas lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 294.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,323 shares of the company's stock after acquiring an additional 6,211 shares during the quarter. USA Financial Formulas' holdings in PDD were worth $1,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PDD. SC US Ttgp LTD. raised its position in PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company's stock valued at $4,730,242,000 after buying an additional 45,048,300 shares during the period. Baillie Gifford & Co. increased its holdings in shares of PDD by 6.4% in the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company's stock valued at $5,553,962,000 after purchasing an additional 2,292,068 shares during the period. Vanguard Group Inc. grew its position in PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company's stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares in the last quarter. FMR LLC increased its stake in PDD by 32.6% in the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company's stock valued at $1,729,475,000 after buying an additional 4,334,186 shares during the period. Finally, Invesco Ltd. lifted its position in PDD by 5.4% in the 3rd quarter. Invesco Ltd. now owns 7,349,430 shares of the company's stock worth $720,759,000 after buying an additional 376,947 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target 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. JPMorgan Chase & Co. reduced their price target on PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, March 21st. Barclays boosted their price target on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Benchmark lifted their target price on shares of PDD from $215.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Citigroup raised their price target on shares of PDD from $170.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.85.

PDD Stock Performance

Shares of NASDAQ:PDD traded up $4.25 during midday trading on Monday, hitting $140.52. The company's stock had a trading volume of 9,726,332 shares, compared to its average volume of 8,420,541. The stock's 50 day simple moving average is $122.86 and its 200 day simple moving average is $128.81. PDD Holdings Inc. has a fifty-two week low of $59.98 and a fifty-two week high of $152.99. The stock has a market capitalization of $193.34 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 0.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, research analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current 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.