Vanguard Group Inc. Has $2.82 Billion Stake in PDD Holdings Inc. (NASDAQ:PDD)

Vanguard Group Inc. lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 0.4% in the first quarter, HoldingsChannel.com reports. The firm owned 24,261,575 shares of the company’s stock after purchasing an additional 97,648 shares during the quarter. Vanguard Group Inc.’s holdings in PDD were worth $2,820,408,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in shares of PDD during the first quarter worth about $29,000. Gordian Capital Singapore Pte Ltd bought a new position in PDD in the 4th quarter valued at about $59,000. EverSource Wealth Advisors LLC raised its position in PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares in the last quarter. AJOVista LLC bought a new stake in PDD during the fourth quarter worth $103,000. Finally, Royal London Asset Management Ltd. acquired a new position in shares of PDD during the 4th quarter worth $112,000. 29.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays boosted their target price on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Citigroup lifted their target price on shares of PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Bank of America upped their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, 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 report on Wednesday, May 22nd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $188.33.

PDD Price Performance

NASDAQ PDD traded up $0.96 on Friday, hitting $133.04. The stock had a trading volume of 4,888,682 shares, compared to its average volume of 6,837,479. The firm has a 50-day moving average of $142.81 and a 200-day moving average of $133.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. PDD Holdings Inc. has a 52-week low of $74.48 and a 52-week high of $164.69. The company has a market capitalization of $183.05 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.23 and a beta of 0.63.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.02 billion during the quarter, compared to analyst estimates of $10.62 billion. Equities analysts expect that PDD Holdings Inc. will post 11.41 EPS 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.