Ninety One North America Inc. Acquires New Stake in PDD Holdings Inc. (NASDAQ:PDD)

Ninety One North America Inc. acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 369,717 shares of the company’s stock, valued at approximately $54,093,000. PDD accounts for 2.6% of Ninety One North America Inc.’s holdings, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors grew its stake in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 331 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in PDD during the 4th quarter worth $43,000. Turim 21 Investimentos Ltda. acquired a new position in PDD during the 3rd quarter worth $55,000. Finally, Wahed Invest LLC acquired a new position in PDD during the 1st quarter worth $70,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PDD shares. Citigroup boosted their target price on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group upped their price objective on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Barclays upped their price objective on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group cut PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a research report on Monday, March 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.85.

PDD Price Performance

Shares of PDD traded up $1.67 on Thursday, reaching $115.10. The stock had a trading volume of 2,909,955 shares, compared to its average volume of 8,203,691. The firm has a market capitalization of $151.88 billion, a PE ratio of 20.08, a PEG ratio of 0.29 and a beta of 0.67. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $122.85 and a 200 day moving average of $125.66. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. Sell-side analysts expect that PDD Holdings Inc. will post 7.85 EPS for the current year.

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.