AMF Tjanstepension AB Purchases Shares of 24,466 PDD Holdings Inc. (NASDAQ:PDD)

AMF Tjanstepension AB purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,466 shares of the company’s stock, valued at approximately $2,844,000.

A number of other large investors also recently bought and sold shares of PDD. Triasima Portfolio Management inc. purchased a new stake in shares of PDD in the fourth quarter valued at approximately $1,813,000. Los Angeles Capital Management LLC increased its position in shares of PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after purchasing an additional 177,600 shares in the last quarter. Hhlr Advisors LTD. increased 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 purchasing an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $2,363,645,000 after purchasing an additional 6,637,418 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of PDD during the fourth quarter worth approximately $13,379,000. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock opened at $132.95 on Friday. PDD Holdings Inc. has a 52 week low of $66.40 and a 52 week high of $164.69. The business’s fifty day simple moving average is $141.54 and its 200-day simple moving average is $134.87. The firm has a market cap of $182.92 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.64. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $10.62 billion. Equities analysts forecast that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PDD shares. Jefferies Financial Group boosted their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. JPMorgan Chase & Co. dropped their price target on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Benchmark upped their target price on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, UBS Group upped their target price on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus 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.