RWC Asset Advisors US LLC Acquires 40,082 Shares of PDD Holdings Inc. (NASDAQ:PDD)

RWC Asset Advisors US LLC lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,923,791 shares of the company’s stock after acquiring an additional 40,082 shares during the period. PDD makes up approximately 22.3% of RWC Asset Advisors US LLC’s holdings, making the stock its biggest holding. RWC Asset Advisors US LLC owned 0.15% of PDD worth $281,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PDD. SRS Capital Advisors Inc. grew its stake in shares of PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares in the last quarter. Turim 21 Investimentos Ltda. bought a new position in shares of PDD during the 3rd quarter worth approximately $55,000. CWM LLC grew its stake in shares of PDD by 22.7% during the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after acquiring an additional 140 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of PDD during the 4th quarter worth approximately $144,000. Finally, Shen Neil Nanpeng bought a new position in shares of PDD during the 3rd quarter worth approximately $175,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on PDD shares. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. JPMorgan Chase & Co. decreased their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Citigroup raised their target price on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Barclays raised their target price on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Jefferies Financial Group raised their target price on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Stock Performance

Shares of PDD traded up $3.52 during midday trading on Friday, reaching $129.31. 11,547,606 shares of the stock were exchanged, compared to its average volume of 6,706,696. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The company has a market cap of $170.64 billion, a P/E ratio of 22.57, a PEG ratio of 0.33 and a beta of 0.67. The stock’s 50 day simple moving average is $121.75 and its 200 day simple moving average is $126.56.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, sell-side analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

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.