Quadrature Capital Ltd Buys Shares of 143,466 PDD Holdings Inc. (NASDAQ:PDD)

Quadrature Capital Ltd purchased a new position in PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 143,466 shares of the company’s stock, valued at approximately $20,991,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its stake in PDD by 2.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock worth $491,000 after purchasing an additional 66 shares during the period. Johnson Investment Counsel Inc. grew its holdings in shares of PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after buying an additional 78 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the last quarter. PDS Planning Inc raised its stake in shares of PDD by 5.2% during the 4th quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after buying an additional 116 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in PDD by 1.4% in the 4th quarter. Ritholtz Wealth Management now owns 12,189 shares of the company’s stock worth $1,783,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PDD. Barclays boosted their price target on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Citigroup raised their target price on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their target price on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Bank of America increased their target price on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Sanford C. Bernstein raised their target price on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $188.33.

PDD Price Performance

Shares of NASDAQ:PDD opened at $148.30 on Tuesday. The company’s fifty day moving average is $137.24 and its two-hundred day moving average is $134.90. PDD Holdings Inc. has a 12-month low of $66.40 and a 12-month high of $164.69. 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 company has a market cap of $204.04 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDD) last issued its quarterly earnings results 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. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates of $10.62 billion. Equities analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

About PDD

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.