PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 130.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 498,237 shares of the company’s stock after purchasing an additional 282,199 shares during the quarter. Sei Investments Co.’s holdings in PDD were worth $66,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in PDD by 1.7% in the 2nd quarter. Pacer Advisors Inc. now owns 32,140 shares of the company’s stock worth $4,273,000 after purchasing an additional 540 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of PDD by 9.9% in the 2nd quarter. Intech Investment Management LLC now owns 16,397 shares of the company’s stock worth $2,180,000 after purchasing an additional 1,475 shares during the last quarter. Inspire Investing LLC bought a new position in PDD in the 2nd quarter valued at $723,000. Leuthold Group LLC bought a new position in shares of PDD in the second quarter worth about $320,000. Finally, XTX Topco Ltd lifted its stake in shares of PDD by 42.1% during the second quarter. XTX Topco Ltd now owns 8,089 shares of the company’s stock valued at $1,075,000 after acquiring an additional 2,395 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Down 0.1 %

NASDAQ:PDD opened at $99.90 on Friday. The company has a market capitalization of $137.45 billion, a PE ratio of 13.23, a P/E/G ratio of 0.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The firm’s 50-day moving average price is $119.97 and its 200-day moving average price is $128.45.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period last year, the firm posted $1.27 EPS. The company’s revenue was up 85.7% on a year-over-year basis. On average, equities analysts predict that PDD Holdings Inc. will post 11.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PDD shares. Jefferies Financial Group reduced their price target on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Benchmark reduced their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Finally, Barclays decreased their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $177.78.

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.