Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,070 shares of the company's stock after purchasing an additional 25,970 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in PDD were worth $55,420,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. M&G Investment Management Ltd. lifted its holdings in PDD by 4.4% in the 4th quarter. M&G Investment Management Ltd. now owns 209,826 shares of the company's stock worth $30,635,000 after buying an additional 8,900 shares in the last quarter. Monolith Management Ltd acquired a new position in shares of PDD in the fourth quarter worth about $53,549,000. Pinnacle Wealth Planning Services Inc. purchased a new position in PDD in the fourth quarter valued at about $214,000. Massachusetts Financial Services Co. MA grew its stake in PDD by 21.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 133,037 shares of the company's stock valued at $19,465,000 after purchasing an additional 23,429 shares in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in PDD during the 4th quarter worth approximately $249,000. Institutional investors and hedge funds own 29.07% of the company's stock.
PDD Stock Performance
Shares of PDD traded up $2.61 during trading hours on Wednesday, reaching $141.30. 4,934,672 shares of the company's stock traded hands, compared to its average volume of 8,363,823. The business's fifty day simple moving average is $123.57 and its two-hundred day simple moving average is $129.26. The firm has a market capitalization of $194.41 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 0.36 and a beta of 0.67. 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 twelve month low of $59.98 and a twelve month high of $152.99.
PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The company had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. Analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Benchmark raised their price target on shares of PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Jefferies Financial Group upped their price objective on PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research note 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 report on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on PDD from $195.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group lowered shares of PDD from a "buy" rating to a "neutral" rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $146.85.
Get Our Latest Analysis on PDD
PDD Profile
(
Free Report)
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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