Monolith Management Ltd Makes New $53.55 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Monolith Management Ltd bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDDFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 366,000 shares of the company’s stock, valued at approximately $53,549,000. PDD comprises about 28.0% of Monolith Management Ltd’s holdings, making the stock its biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SC US Ttgp LTD. boosted its position in PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of PDD by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after acquiring an additional 2,292,068 shares during the period. Vanguard Group Inc. boosted its holdings in PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after buying an additional 6,637,418 shares during the period. FMR LLC boosted its holdings in PDD by 32.6% in the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after buying an additional 4,334,186 shares during the period. Finally, Invesco Ltd. boosted its holdings in PDD by 5.4% in the 3rd quarter. Invesco Ltd. now owns 7,349,430 shares of the company’s stock worth $720,759,000 after buying an additional 376,947 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Stock Up 1.4 %

Shares of NASDAQ PDD traded up $1.93 during midday trading on Wednesday, hitting $140.62. The stock had a trading volume of 3,208,616 shares, compared to its average volume of 8,344,359. The business’s 50 day moving average is $123.57 and its 200-day moving average is $129.26. The company has a market cap of $193.47 billion, a P/E ratio of 24.59, a PEG ratio of 0.36 and a beta of 0.67. PDD Holdings Inc. has a 52 week low of $59.98 and a 52 week high of $152.99. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup raised their price target on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Benchmark lifted their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a report on Monday, March 11th. Jefferies Financial Group lifted their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Barclays lifted their price objective on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.85.

Get Our Latest Research Report on PDD

PDD Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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