SageView Advisory Group LLC Invests $1.14 Million in PDD Holdings Inc. (NASDAQ:PDD)

SageView Advisory Group LLC purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,315 shares of the company’s stock, valued at approximately $1,144,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in PDD by 19.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 444,539 shares of the company’s stock worth $51,678,000 after acquiring an additional 72,469 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in PDD by 88.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 499,855 shares of the company’s stock valued at $58,108,000 after acquiring an additional 234,087 shares in the last quarter. Freemont Capital Pte Ltd bought a new position in shares of PDD during the 1st quarter worth approximately $814,000. QCM Cayman Ltd. bought a new position in shares of PDD during the 1st quarter worth approximately $241,000. Finally, Bleakley Financial Group LLC lifted its position in shares of PDD by 6.0% during the 1st quarter. Bleakley Financial Group LLC now owns 4,969 shares of the company’s stock worth $578,000 after buying an additional 283 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Down 0.2 %

Shares of NASDAQ PDD traded down $0.24 during midday trading on Friday, hitting $131.84. The company’s stock had a trading volume of 2,482,114 shares, compared to its average volume of 8,606,073. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $142.88 and its two-hundred day moving average is $133.88. PDD Holdings Inc. has a 12-month low of $74.48 and a 12-month high of $164.69. The firm has a market cap of $181.39 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 0.23 and a beta of 0.63.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. As a group, equities research analysts expect that PDD Holdings Inc. will post 11.41 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lowered their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Bank of America upped their price objective on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. UBS Group upped their price objective on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, PDD currently has a consensus rating of “Buy” and a consensus target price of $188.33.

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.