PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 7.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 921,380 shares of the company’s stock after acquiring an additional 60,991 shares during the period. Victory Capital Management Inc.’s holdings in PDD were worth $134,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. grew its stake in shares of PDD by 2.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after purchasing an additional 66 shares during the last quarter. PDS Planning Inc raised its holdings in PDD by 5.2% during the fourth quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock worth $341,000 after purchasing an additional 116 shares during the last quarter. CWM LLC raised its holdings in PDD by 22.7% during the third quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after purchasing an additional 140 shares during the last quarter. Ritholtz Wealth Management raised its holdings in PDD by 1.4% during the fourth quarter. Ritholtz Wealth Management now owns 12,189 shares of the company’s stock worth $1,783,000 after purchasing an additional 174 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of PDD by 3.8% in the third quarter. First Trust Direct Indexing L.P. now owns 4,962 shares of the company’s stock worth $487,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Stock Performance

PDD stock opened at $124.49 on Thursday. The stock has a fifty day moving average price of $121.35 and a 200 day moving average price of $127.05. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $164.28 billion, a P/E ratio of 21.73, a PEG ratio of 0.32 and a beta of 0.67.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PDD shares. Citigroup boosted their price target on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Barclays boosted their price target on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. cut their price target on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group boosted their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Benchmark boosted their price target on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.85.

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.