PDD Holdings Inc. (NASDAQ:PDD) is Genesis Investment Management LLP’s Largest Position

Genesis Investment Management LLP lessened its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 887,951 shares of the company’s stock after selling 68,515 shares during the period. PDD comprises approximately 23.1% of Genesis Investment Management LLP’s investment portfolio, making the stock its biggest position. Genesis Investment Management LLP owned 0.06% of PDD worth $119,705,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PDD. Royal London Asset Management Ltd. purchased a new stake in shares of PDD during the fourth quarter valued at $448,000. Seven Eight Capital LP purchased a new stake in PDD in the fourth quarter valued at $715,000. Connectus Wealth LLC boosted its holdings in PDD by 9.4% in the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock valued at $1,003,000 after purchasing an additional 590 shares during the last quarter. Sei Investments Co. boosted its holdings in PDD by 104.0% in the fourth quarter. Sei Investments Co. now owns 265,696 shares of the company’s stock valued at $38,874,000 after purchasing an additional 135,453 shares during the last quarter. Finally, Redwood Investment Management LLC purchased a new stake in PDD in the fourth quarter valued at $3,526,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PDD. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their price target on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and increased their price target for the company from $126.00 to $224.00 in a research note on Monday. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Bank of America dropped their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $182.40.

PDD Stock Down 2.3 %

Shares of PDD stock traded down $3.33 on Wednesday, hitting $141.53. The stock had a trading volume of 4,673,409 shares, compared to its average volume of 10,706,036. The firm has a market capitalization of $194.73 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 0.37 and a beta of 0.71. The stock’s 50 day moving average is $121.00 and its 200-day moving average is $129.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm’s revenue was up 85.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. As a group, research analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

PDD 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.