PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 665,119 shares of the company’s stock after selling 108,183 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in PDD were worth $77,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. bought a new position in PDD during the fourth quarter valued at about $1,813,000. Los Angeles Capital Management LLC lifted its stake in shares of PDD by 149.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after purchasing an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. boosted its holdings in PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. increased its position in PDD by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after buying an additional 62,312 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in PDD during the fourth quarter valued at about $13,379,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Up 0.7 %

Shares of NASDAQ:PDD traded up $0.96 during midday trading on Friday, hitting $133.04. The stock had a trading volume of 4,888,682 shares, compared to its average volume of 6,837,479. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $142.81 and its 200-day simple moving average is $133.71. PDD Holdings Inc. has a 12 month low of $74.48 and a 12 month high of $164.69. The company has a market cap of $183.05 billion, a P/E ratio of 17.62, a PEG ratio of 0.23 and a beta of 0.63.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PDD shares. Barclays boosted their target price on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Benchmark boosted their target price on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein raised their price target on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, Bank of America boosted their price objective on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, PDD presently has an average rating of “Buy” and an average target price of $188.33.

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.