Barings LLC Has $103.02 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Barings LLC lifted its stake in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 35.9% during the 4th quarter, Holdings Channel reports. The firm owned 704,130 shares of the company’s stock after acquiring an additional 186,189 shares during the period. PDD makes up 3.3% of Barings LLC’s holdings, making the stock its 5th biggest holding. Barings LLC’s holdings in PDD were worth $103,021,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. SC US Ttgp LTD. raised its holdings in PDD by 1,414.4% in the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after purchasing an additional 45,048,300 shares during the period. Vanguard Group Inc. increased its position in shares of PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after buying an additional 6,637,418 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of PDD by 14.4% in the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock valued at $3,497,977,000 after buying an additional 4,501,126 shares in the last quarter. FMR LLC increased its position in shares of PDD by 32.6% in the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after buying an additional 4,334,186 shares in the last quarter. Finally, Ninety One UK Ltd bought a new stake in shares of PDD in the 4th quarter valued at $235,666,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup upped their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Benchmark upped their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price objective on shares of 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 shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Jefferies Financial Group increased their target price on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.85.

Check Out Our Latest Stock Analysis on PDD

PDD Stock Down 1.3 %

Shares of NASDAQ PDD traded down $1.83 during mid-day trading on Tuesday, hitting $138.69. The company had a trading volume of 6,570,477 shares, compared to its average volume of 8,398,244. The company has a market capitalization of $190.82 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 0.35 and a beta of 0.67. The firm has a 50-day simple moving average of $123.22 and a two-hundred day simple moving average of $129.04. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD Holdings Inc. has a one year low of $59.98 and a one year high of $152.99.

PDD (NASDAQ:PDDGet Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion during 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%. On average, equities analysts expect that PDD Holdings Inc. will post 7.85 EPS for the current year.

PDD 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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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