Royal London Asset Management Ltd. Acquires Shares of 3,064 PDD Holdings Inc. (NASDAQ:PDD)

Royal London Asset Management Ltd. acquired a new stake in PDD Holdings Inc. (NASDAQ:PDDFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,064 shares of the company’s stock, valued at approximately $448,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its stake in PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares in the last quarter. Turim 21 Investimentos Ltda. bought a new position in shares of PDD during the third quarter worth $55,000. AJOVista LLC bought a new position in shares of PDD during the fourth quarter worth $103,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of PDD during the fourth quarter worth $144,000. 29.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PDD shares. Bank of America lifted their price target on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Benchmark lifted their price target on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. UBS Group lifted their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Sanford C. Bernstein lifted their price target on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, PDD has an average rating of “Buy” and an average price target of $188.33.

View Our Latest Research Report on PDD

PDD Stock Up 3.2 %

Shares of PDD stock opened at $148.48 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1 year low of $66.40 and a 1 year high of $164.69. The firm’s fifty day moving average price is $134.13 and its two-hundred day moving average price is $134.33. The firm has a market capitalization of $204.29 billion, a P/E ratio of 19.67, a PEG ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDDGet Free Report) last released its quarterly earnings data 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 company had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. On average, equities analysts predict 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.

Further Reading

Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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