5,201 Shares in PDD Holdings Inc. (NASDAQ:PDD) Bought by PFG Investments LLC

PFG Investments LLC acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,201 shares of the company’s stock, valued at approximately $605,000.

Other hedge funds have also recently made changes to their positions in the company. SC US Ttgp LTD. increased its holdings in shares of PDD by 1,414.4% in 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 purchasing an additional 45,048,300 shares during the period. Baillie Gifford & Co. increased its holdings in shares of PDD by 6.4% in the fourth 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. increased its holdings in shares of PDD by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after purchasing an additional 62,312 shares during the period. FMR LLC increased its holdings in shares of PDD by 32.6% in the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after purchasing an additional 4,334,186 shares during the period. Finally, Hhlr Advisors LTD. increased its holdings in shares of PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after purchasing an additional 2,760,100 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Down 1.9 %

PDD stock traded down $2.49 during trading on Monday, reaching $126.82. 7,215,909 shares of the company were exchanged, compared to its average volume of 8,408,873. PDD Holdings Inc. has a 52-week low of $59.67 and a 52-week high of $152.99. The company has a market capitalization of $167.35 billion, a P/E ratio of 22.13, a PEG ratio of 0.33 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. The stock’s 50 day simple moving average is $121.58 and its two-hundred day simple moving average is $126.93.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The firm had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. On average, equities research analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PDD. Benchmark raised their target price on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Barclays raised their target price on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Citigroup raised their target price on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. dropped their target price on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Finally, Jefferies Financial Group raised their target price on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and a consensus target price of $146.85.

About PDD

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.