4,686 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by Simplicity Solutions LLC

Simplicity Solutions LLC purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,686 shares of the company’s stock, valued at approximately $686,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SC US Ttgp LTD. raised its stake in shares of PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after buying an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. increased its stake in PDD by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after purchasing an additional 2,292,068 shares in the last quarter. Vanguard Group Inc. increased its stake in PDD by 38.0% in the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares in the last quarter. FMR LLC increased its stake in PDD by 32.6% in the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after purchasing an additional 4,334,186 shares in the last quarter. Finally, Invesco Ltd. increased its stake in PDD by 5.4% in the third quarter. Invesco Ltd. now owns 7,349,430 shares of the company’s stock valued at $720,759,000 after purchasing an additional 376,947 shares in the last quarter. 29.07% of the stock is owned by institutional investors.

PDD Stock Performance

Shares of PDD opened at $113.43 on Thursday. PDD Holdings Inc. has a 12 month low of $59.67 and a 12 month high of $152.99. The firm has a fifty day simple moving average of $122.85 and a 200 day simple moving average of $125.66. The stock has a market capitalization of $149.68 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.29 and a beta of 0.67. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The business had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. Research analysts forecast that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PDD shares. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. JPMorgan Chase & Co. lowered their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Benchmark upped their target price on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Citigroup upped their target price on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Barclays upped their price target on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.85.

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.