Vestmark Advisory Solutions Inc. Buys Shares of 2,018 PDD Holdings Inc. (NASDAQ:PDD)

Vestmark Advisory Solutions Inc. purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,018 shares of the company’s stock, valued at approximately $295,000.

A number of other institutional investors also recently modified their holdings of the business. SC US Ttgp LTD. grew its stake in shares of PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after buying an additional 45,048,300 shares during the last quarter. Vanguard Group Inc. grew its position in PDD by 38.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the last quarter. Baillie Gifford & Co. increased its holdings in PDD by 14.4% in the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after purchasing an additional 4,501,126 shares in the last quarter. FMR LLC raised its position in 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 last quarter. Finally, Ninety One UK Ltd acquired a new stake in shares of PDD during the fourth quarter valued at about $235,666,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the subject of several recent research reports. Jefferies Financial Group upped 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. Citigroup raised their price target 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. The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a report on Monday, March 11th. Barclays lifted 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. Finally, JPMorgan Chase & Co. decreased their price target 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 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.85.

PDD Price Performance

Shares of PDD opened at $138.64 on Tuesday. The firm has a market cap of $182.95 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 0.36 and a beta of 0.67. PDD Holdings Inc. has a 52-week low of $59.67 and a 52-week high of $152.99. The business’s 50 day moving average price is $121.96 and its two-hundred day moving average price is $127.92. 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 (NASDAQ:PDD) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. On average, equities analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current year.

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.