Daiwa Securities Group Inc. Trims Stake in PDD Holdings Inc. (NASDAQ:PDD)

Daiwa Securities Group Inc. trimmed its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,803 shares of the company’s stock after selling 127 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PDD were worth $6,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PDD. SC US Ttgp LTD. raised its position in shares of PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after acquiring an additional 45,048,300 shares in the last quarter. Vanguard Group Inc. boosted its stake in PDD by 38.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares during the last quarter. Norges Bank purchased a new stake in PDD during the 4th quarter valued at $501,089,000. Baillie Gifford & Co. boosted its stake in PDD by 14.4% during the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock valued at $3,497,977,000 after purchasing an additional 4,501,126 shares during the last quarter. Finally, FMR LLC boosted its stake in PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after purchasing an additional 4,334,186 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

PDD Stock Performance

PDD stock opened at $113.70 on Friday. The company has a 50 day moving average price of $122.59 and a 200-day moving average price of $125.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. PDD Holdings Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. The company has a market capitalization of $150.04 billion, a PE ratio of 19.84, a P/E/G ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The business had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, equities analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

PDD 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.