PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 19.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 45,342 shares of the company’s stock after acquiring an additional 7,337 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in PDD were worth $5,271,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PDD. Triasima Portfolio Management inc. acquired a new stake in PDD during the 4th quarter worth approximately $1,813,000. Los Angeles Capital Management LLC lifted its holdings in PDD by 149.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after buying an additional 177,600 shares in the last quarter. Hhlr Advisors LTD. lifted its holdings in PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after buying an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PDD by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after buying an additional 62,312 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in PDD during the 4th quarter worth approximately $13,379,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 0.9 %

Shares of NASDAQ PDD traded down $1.16 during mid-day trading on Tuesday, reaching $133.08. The company had a trading volume of 3,209,556 shares, compared to its average volume of 8,553,214. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $142.69 and a two-hundred day simple moving average of $133.50. The stock has a market cap of $183.10 billion, a P/E ratio of 17.63, a PEG ratio of 0.23 and a beta of 0.63. PDD Holdings Inc. has a 52-week low of $74.61 and a 52-week high of $164.69.

PDD (NASDAQ:PDD) last issued its quarterly earnings data 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 net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. Sell-side analysts predict that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. UBS Group increased their price objective on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Bank of America increased their price objective on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Sanford C. Bernstein increased their price objective on shares of PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average 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.