PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by FIL Ltd

FIL Ltd lessened its holdings in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,058,748 shares of the company’s stock after selling 1,437,971 shares during the period. FIL Ltd owned approximately 0.31% of PDD worth $593,835,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ogborne Capital Management LLC acquired a new position in PDD during the fourth quarter worth approximately $9,510,000. OLD Mission Capital LLC purchased a new stake in shares of PDD in the fourth quarter valued at about $8,628,000. PARUS FINANCE UK Ltd acquired a new position in shares of PDD during the 4th quarter worth $1,231,000. Profund Advisors LLC increased its holdings in shares of PDD by 21.6% in the 4th quarter. Profund Advisors LLC now owns 94,854 shares of the company’s stock valued at $13,878,000 after purchasing an additional 16,871 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of PDD by 11.0% in the fourth quarter. Public Sector Pension Investment Board now owns 350,465 shares of the company’s stock valued at $51,277,000 after purchasing an additional 34,691 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup raised their price target on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. UBS Group upped their price target on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Bank of America boosted their price objective on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Benchmark lifted their price target on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $184.00 in a report on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $188.33.

Get Our Latest Stock Report on PDD

PDD Stock Down 1.4 %

Shares of PDD stock traded down $2.09 during trading on Friday, reaching $148.98. 8,580,629 shares of the company traded hands, compared to its average volume of 8,943,376. PDD Holdings Inc. has a 1-year low of $66.40 and a 1-year high of $164.69. The company has a 50 day moving average price of $136.00 and a 200-day moving average price of $134.76. The firm has a market capitalization of $204.98 billion, a PE ratio of 19.64, a P/E/G ratio of 0.27 and a beta of 0.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.

PDD (NASDAQ:PDDGet Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $1.44 by $1.19. The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. As a group, equities research analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

About PDD

(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.

Recommended Stories

Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

Receive News & Ratings for PDD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDD and related companies with MarketBeat.com's FREE daily email newsletter.