PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 149.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,786 shares of the company’s stock after purchasing an additional 177,600 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PDD were worth $34,501,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its holdings in shares of PDD by 294.4% in 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 position in shares of PDD during the 3rd quarter valued at about $55,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PDD in the 4th quarter valued at about $59,000. EverSource Wealth Advisors LLC boosted its stake in shares of PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the last quarter. Finally, AJOVista LLC acquired a new stake in PDD during the fourth quarter worth about $103,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $144.18 on Thursday. The stock has a market capitalization of $198.37 billion, a P/E ratio of 19.10, a PEG ratio of 0.26 and a beta of 0.64. The business has a 50 day simple moving average of $138.19 and a two-hundred day simple moving average of $134.96. PDD Holdings Inc. has a 12 month low of $66.40 and a 12 month high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. As a group, analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays boosted their price target on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Jefferies Financial Group raised their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. 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 research report on Thursday, March 21st. Finally, UBS Group upped their price target on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PDD presently has an average rating of “Buy” and a consensus price target of $188.33.

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.