California State Teachers Retirement System Buys 50,205 Shares of PDD Holdings Inc. (NASDAQ:PDD)

California State Teachers Retirement System grew its stake in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 38.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,724 shares of the company’s stock after acquiring an additional 50,205 shares during the period. California State Teachers Retirement System’s holdings in PDD were worth $26,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PDD. SC US Ttgp LTD. raised its stake in shares of PDD by 1,414.4% in the third 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 during the last quarter. Norges Bank bought a new stake in shares of PDD during the fourth quarter worth approximately $1,075,172,000. Vanguard Group Inc. raised its stake in shares of PDD by 38.0% during the third 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 during the last quarter. Baillie Gifford & Co. raised its stake in shares of PDD by 14.4% during the third quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after buying an additional 4,501,126 shares during the last quarter. Finally, FMR LLC raised its stake in shares of PDD by 32.6% during the third 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. 29.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PDD shares. Sanford C. Bernstein boosted their price target on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Citigroup boosted their price target on shares of PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Benchmark boosted their price target on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $184.00 in a report on Friday, May 24th. Finally, Jefferies Financial Group boosted their price objective on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PDD currently has a consensus rating of “Buy” and a consensus target price of $188.33.

Get Our Latest Report on PDD

PDD Stock Down 2.1 %

PDD stock opened at $142.80 on Thursday. The stock has a market capitalization of $196.47 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 0.26 and a beta of 0.64. PDD Holdings Inc. has a twelve month low of $66.40 and a twelve month high of $164.69. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $132.44 and a 200-day moving average of $133.63.

PDD (NASDAQ:PDDGet Free Report) last released its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

PDD Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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