PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 343,994 shares of the company’s stock after purchasing an additional 22,300 shares during the period. Public Sector Pension Investment Board’s holdings in PDD were worth $46,374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PDD. Acadian Asset Management LLC lifted its holdings in PDD by 107.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after buying an additional 1,904,155 shares during the last quarter. Tairen Capital Ltd raised its position in shares of PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after acquiring an additional 1,788,076 shares in the last quarter. FMR LLC raised its position in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares in the last quarter. Dragoneer Investment Group LLC lifted its stake in PDD by 142.6% during the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock worth $348,440,000 after purchasing an additional 1,540,346 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in PDD in the second quarter valued at approximately $176,332,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Stock Performance

NASDAQ PDD opened at $98.80 on Thursday. The business’s 50-day moving average price is $123.34 and its 200 day moving average price is $128.92. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $135.94 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.26 and a beta of 0.71. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 46.08% and a net margin of 29.05%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same period last year, the business posted $1.27 EPS. The company’s revenue was up 85.7% on a year-over-year basis. On average, equities research analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PDD. Jefferies Financial Group cut their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Benchmark cut their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Nomura Securities raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and an average price target of $173.40.

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.