Ninety One UK Ltd Makes New $235.67 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Ninety One UK Ltd bought a new position in PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,610,734 shares of the company’s stock, valued at approximately $235,666,000. Ninety One UK Ltd owned 0.12% of PDD as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Captrust Financial Advisors boosted its holdings in shares of PDD by 108.5% in the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 331 shares during the last quarter. SRS Capital Advisors Inc. boosted 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 valued at $27,000 after purchasing an additional 209 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of PDD during the 4th quarter valued at $43,000. Turim 21 Investimentos Ltda. acquired a new position in shares of PDD during the 3rd quarter valued at $55,000. Finally, Wahed Invest LLC acquired a new position in shares of PDD during the 1st quarter valued at $70,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

PDD Stock Up 0.6 %

Shares of PDD traded up $0.73 during midday trading on Thursday, hitting $114.16. The company had a trading volume of 3,161,386 shares, compared to its average volume of 8,208,546. The stock has a market cap of $150.64 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99. The company’s 50 day moving average price is $122.85 and its 200 day moving average price is $125.66. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion for 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%. On average, equities research analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current year.

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.