PDD Holdings Inc. (NASDAQ:PDD) Holdings Boosted by RWC Asset Advisors US LLC

RWC Asset Advisors US LLC increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,923,791 shares of the company’s stock after purchasing an additional 40,082 shares during the quarter. PDD accounts for approximately 22.3% of RWC Asset Advisors US LLC’s portfolio, making the stock its largest position. RWC Asset Advisors US LLC’s holdings in PDD were worth $281,470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Triasima Portfolio Management inc. bought a new stake in shares of PDD in the 4th quarter worth approximately $1,813,000. Parametrica Management Ltd boosted its position 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 purchasing an additional 16,700 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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. International Assets Investment Management LLC bought a new stake in shares of PDD during the fourth quarter valued at approximately $13,379,000. Finally, Nordea Investment Management AB boosted its position in shares of PDD by 7.2% during the fourth quarter. Nordea Investment Management AB now owns 297,090 shares of the company’s stock valued at $43,334,000 after purchasing an additional 20,045 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

PDD Stock Performance

Shares of PDD traded up $3.52 during trading hours on Friday, hitting $129.31. The stock had a trading volume of 11,547,606 shares, compared to its average volume of 6,706,696. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. PDD Holdings Inc. has a 12 month low of $59.67 and a 12 month high of $152.99. The firm has a market capitalization of $170.64 billion, a PE ratio of 22.57, a PEG ratio of 0.33 and a beta of 0.67. The stock has a fifty day moving average price of $121.75 and a 200 day moving average price of $126.56.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The company had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. Analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on PDD. Barclays lifted their price target on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Benchmark lifted their price objective on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group cut PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a research note on Monday, March 11th. JPMorgan Chase & Co. lowered their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Finally, Jefferies Financial Group lifted 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.