Los Angeles Capital Management LLC Has $17.44 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Los Angeles Capital Management LLC lifted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 119,186 shares of the company’s stock after acquiring an additional 8,566 shares during the period. Los Angeles Capital Management LLC’s holdings in PDD were worth $17,438,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDD. SC US Ttgp LTD. grew its holdings in PDD by 1,414.4% during the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. boosted its position in PDD by 6.4% in the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after buying an additional 2,292,068 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after buying an additional 6,637,418 shares during the period. FMR LLC raised its position in shares of PDD by 32.6% during the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after acquiring an additional 4,334,186 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of PDD by 5.4% during the third quarter. Invesco Ltd. now owns 7,349,430 shares of the company’s stock valued at $720,759,000 after acquiring an additional 376,947 shares during the period. Institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

PDD has been the subject of several recent research reports. Barclays boosted their price objective on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. 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. Benchmark upped their price target 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 lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a research note on Monday, March 11th. Finally, Citigroup upped their target price on shares of PDD from $170.00 to $185.00 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.85.

PDD Stock Performance

PDD stock traded up $2.64 during midday trading on Friday, reaching $140.18. 11,575,696 shares of the company’s stock were exchanged, compared to its average volume of 8,344,514. The stock’s 50-day simple moving average is $121.47 and its 200 day simple moving average is $127.12. The firm has a market cap of $184.98 billion, a price-to-earnings ratio of 24.46, 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 quick ratio of 1.93 and a current ratio of 1.93. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. On average, analysts expect that PDD Holdings Inc. will post 7.85 earnings per share 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.