Vaughan Nelson Investment Management L.P. Acquires Shares of 11,740 PDD Holdings Inc. (NASDAQ:PDD)

Vaughan Nelson Investment Management L.P. acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,740 shares of the company’s stock, valued at approximately $1,365,000.

Other institutional investors have also recently bought and sold shares of the company. Triasima Portfolio Management inc. bought a new position in PDD in the 4th quarter valued at $1,813,000. Los Angeles Capital Management LLC increased its stake in shares of PDD by 149.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after buying an additional 177,600 shares during the period. Hhlr Advisors LTD. increased its stake in shares of PDD by 37.5% in the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after buying an additional 2,760,100 shares during the period. 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. Finally, International Assets Investment Management LLC acquired a new stake in shares of PDD in the 4th quarter valued at $13,379,000. Institutional investors own 29.07% of the company’s stock.

PDD Stock Performance

PDD stock opened at $133.88 on Wednesday. PDD Holdings Inc. has a 1-year low of $67.55 and a 1-year high of $164.69. The business’s 50-day moving average price is $141.72 and its two-hundred day moving average price is $134.61. The firm has a market cap of $184.20 billion, a PE ratio of 17.73, a P/E/G ratio of 0.23 and a beta of 0.63. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share 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 business had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. As a group, research analysts forecast that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup lifted their target price on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group lifted their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Sanford C. Bernstein lifted their target price on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Bank of America lifted their target price on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Benchmark lifted their target price on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price 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.