International Assets Investment Management LLC Acquires Shares of 91,444 PDD Holdings Inc. (NASDAQ:PDD)

International Assets Investment Management LLC bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 91,444 shares of the company’s stock, valued at approximately $13,379,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SC US Ttgp LTD. grew its stake in shares of PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after acquiring an additional 45,048,300 shares in the last quarter. Baillie Gifford & Co. increased its stake in PDD by 14.4% in the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock valued at $3,497,977,000 after buying an additional 4,501,126 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PDD by 38.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after buying an additional 6,637,418 shares in the last quarter. FMR LLC boosted its stake in shares of 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 buying an additional 4,334,186 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of 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 acquiring an additional 376,947 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group lifted 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. Barclays lifted their price objective on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research 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 for the company in a research report on Thursday, March 21st. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a report on Monday, March 11th. Finally, Citigroup increased their price objective on PDD from $170.00 to $185.00 and gave the company 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.85.

PDD Price Performance

Shares of NASDAQ PDD opened at $140.18 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. PDD Holdings Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. The stock 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 stock has a fifty day moving average of $121.72 and a 200-day moving average of $127.68.

PDD (NASDAQ:PDD) last posted its earnings results 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. PDD had a return on equity of 39.10% and a net margin of 24.23%. The business had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. Equities research analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share 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.