First Trust Direct Indexing L.P. Purchases 689 Shares of PDD Holdings Inc. (NASDAQ:PDD)

First Trust Direct Indexing L.P. grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,651 shares of the company’s stock after purchasing an additional 689 shares during the period. First Trust Direct Indexing L.P.’s holdings in PDD were worth $827,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SRS Capital Advisors Inc. lifted its holdings in shares of PDD by 294.4% in 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 during the last quarter. Turim 21 Investimentos Ltda. bought a new stake in PDD in the third quarter worth $55,000. Tennessee Valley Asset Management Partners bought a new stake in PDD in the fourth quarter worth $144,000. Shen Neil Nanpeng purchased a new stake in PDD during the third quarter valued at about $175,000. Finally, Greenleaf Trust bought a new position in shares of PDD during the third quarter valued at about $206,000. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of NASDAQ PDD opened at $140.18 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. The company has a 50 day simple moving average of $121.47 and a two-hundred day simple moving average of $127.12. PDD Holdings Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. The company has a market capitalization of $184.98 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 0.36 and a beta of 0.67.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PDD. Benchmark increased their target price on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Citigroup raised their target price on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a report on Monday, March 11th. Barclays boosted their price objective on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Jefferies Financial Group upped their price objective 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.85.

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.