Diversified Trust Co Boosts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Diversified Trust Co lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 68.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,919 shares of the company’s stock after purchasing an additional 6,037 shares during the quarter. Diversified Trust Co’s holdings in PDD were worth $1,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in PDD by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after buying an additional 97,648 shares during the last quarter. Hhlr Advisors LTD. raised its position in PDD by 16.6% in the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after buying an additional 1,680,600 shares during the last quarter. Norges Bank purchased a new position in PDD in the 4th quarter worth about $1,075,172,000. Assenagon Asset Management S.A. raised its position in PDD by 15,755.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,087,255 shares of the company’s stock worth $591,393,000 after buying an additional 5,055,169 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in PDD by 109.7% in the 4th quarter. Hsbc Holdings PLC now owns 2,883,200 shares of the company’s stock worth $421,842,000 after buying an additional 1,507,973 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Performance

Shares of NASDAQ:PDD traded up $0.07 during mid-day trading on Wednesday, reaching $144.09. 1,182,932 shares of the company traded hands, compared to its average volume of 8,263,085. The company’s 50 day moving average price is $137.52 and its 200-day moving average price is $132.01. The firm has a market cap of $198.25 billion, a PE ratio of 19.08, a PEG ratio of 0.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. PDD Holdings Inc. has a 52 week low of $75.44 and a 52 week high of $164.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. On average, equities analysts expect that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Benchmark boosted their price target on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Barclays boosted their price target on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Sanford C. Bernstein boosted their price target on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Bank of America boosted their price target on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Citigroup boosted their price target on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, PDD currently has a consensus rating of “Buy” and a consensus target price of $188.33.

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.