PDD Holdings Inc. (NASDAQ:PDD) Holdings Raised by Ballentine Partners LLC

Ballentine Partners LLC increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,581 shares of the company’s stock after purchasing an additional 164 shares during the quarter. Ballentine Partners LLC’s holdings in PDD were worth $300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PDD. SC US Ttgp LTD. lifted its holdings in shares of PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after purchasing an additional 45,048,300 shares during the last quarter. Norges Bank bought a new stake in PDD in the fourth quarter valued at $1,075,172,000. Vanguard Group Inc. boosted its holdings in shares of PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after acquiring an additional 6,637,418 shares during the period. Hhlr Advisors LTD. grew its position in shares of PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after acquiring an additional 2,760,100 shares during the last quarter. Finally, Baillie Gifford & Co. increased its holdings in shares of PDD by 6.4% in the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock worth $5,553,962,000 after acquiring an additional 2,292,068 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of NASDAQ PDD opened at $140.00 on Wednesday. PDD Holdings Inc. has a twelve month low of $66.40 and a twelve month high of $164.69. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $140.29 and a two-hundred day moving average of $134.94. The company has a market capitalization of $192.62 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.25 and a beta of 0.64.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.44 by $1.19. The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. As a group, analysts expect that PDD Holdings Inc. will post 11.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PDD has been the subject of several recent analyst reports. UBS Group upped their target price on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Barclays raised their target price on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Bank of America boosted their price target on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lowered their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Finally, Benchmark upped their price objective on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $188.33.

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.