LGT Group Foundation Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

LGT Group Foundation bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,511 shares of the company’s stock, valued at approximately $1,528,000.

Several other large investors have also recently made changes to their positions in PDD. SC US Ttgp LTD. increased its position in shares of PDD by 1,414.4% during the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after purchasing an additional 45,048,300 shares during the last quarter. Vanguard Group Inc. increased its holdings in PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the last quarter. Baillie Gifford & Co. increased its holdings in PDD by 14.4% in the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after acquiring an additional 4,501,126 shares during the last quarter. FMR LLC increased its holdings in PDD by 32.6% in the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after acquiring an additional 4,334,186 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in PDD in the 4th quarter worth about $235,666,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on 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 PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a report on Monday, March 11th. Jefferies Financial Group lifted their price objective on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Barclays lifted their target price on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, Benchmark lifted 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $146.85.

PDD Stock Performance

Shares of PDD opened at $140.18 on Friday. The company has a market cap of $184.98 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.36 and a beta of 0.67. 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 stock has a 50-day moving average price of $121.47 and a 200-day moving average price of $127.12. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99.

PDD (NASDAQ:PDD) last issued 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. The firm 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%. As a group, equities analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

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.