Yousif Capital Management LLC Boosts Stake in PDD Holdings Inc. (NASDAQ:PDD)

Yousif Capital Management LLC increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,804 shares of the company’s stock after purchasing an additional 2,090 shares during the period. Yousif Capital Management LLC’s holdings in PDD were worth $4,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PDD. SRS Capital Advisors Inc. raised its stake in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Turim 21 Investimentos Ltda. purchased a new stake in PDD during the 3rd quarter valued at approximately $55,000. CWM LLC raised its stake in PDD by 22.7% during the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after acquiring an additional 140 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in PDD during the 4th quarter valued at approximately $144,000. Finally, Shen Neil Nanpeng purchased a new position in shares of PDD during the 3rd quarter worth approximately $175,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PDD. Barclays increased their target price on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Citigroup increased their target price on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded 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. Jefferies Financial Group increased their target price on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. cut 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.85.

PDD Stock Performance

PDD opened at $129.31 on Friday. The stock’s 50 day simple moving average is $121.75 and its 200 day simple moving average is $126.56. The stock has a market cap of $170.64 billion, a P/E ratio of 22.57, a P/E/G 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 1.83. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, equities analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

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.