Barings LLC Purchases 186,189 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Barings LLC lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 35.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 704,130 shares of the company's stock after purchasing an additional 186,189 shares during the period. PDD comprises 3.3% of Barings LLC's portfolio, making the stock its 5th largest position. Barings LLC owned 0.05% of PDD worth $103,021,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PDD. Whittier Trust Co. of Nevada Inc. grew its holdings in PDD by 2.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company's stock worth $491,000 after acquiring an additional 66 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in PDD by 2.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company's stock valued at $480,000 after buying an additional 78 shares during the last quarter. PDS Planning Inc raised its stake in PDD by 5.2% during the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company's stock valued at $341,000 after buying an additional 116 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in PDD by 1.4% during the 4th quarter. Ritholtz Wealth Management now owns 12,189 shares of the company's stock worth $1,783,000 after buying an additional 174 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in shares of PDD by 3.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,962 shares of the company's stock worth $487,000 after acquiring an additional 181 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Trading Down 1.3 %

NASDAQ PDD traded down $1.83 on Tuesday, hitting $138.69. 6,570,477 shares of the company were exchanged, compared to its average volume of 8,398,244. The company's 50 day moving average price is $123.22 and its 200-day moving average price is $129.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93. The firm has a market capitalization of $190.82 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 0.35 and a beta of 0.67. PDD Holdings Inc. has a twelve month low of $59.98 and a twelve month high of $152.99.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.81. The firm 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%. Analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PDD. The Goldman Sachs Group cut PDD from a "buy" rating to a "neutral" rating and set a $136.00 price objective on the stock. in a research note on Monday, March 11th. Barclays boosted their price objective on shares of PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. decreased their target price on PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, March 21st. Benchmark increased their price target on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Finally, Jefferies Financial Group boosted their price objective on PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research 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 MarketBeat.com, PDD has an average rating of "Moderate Buy" and a consensus target price of $146.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.