Vaughan Nelson Investment Management L.P. Invests $1.37 Million in PDD Holdings Inc. (NASDAQ:PDD)

Vaughan Nelson Investment Management L.P. purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,740 shares of the company’s stock, valued at approximately $1,365,000.

A number of other hedge funds also recently modified their holdings of PDD. SRS Capital Advisors Inc. lifted its holdings in shares of PDD by 294.4% during the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in PDD during the 1st quarter worth about $29,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of PDD in the 4th quarter worth about $59,000. EverSource Wealth Advisors LLC lifted its stake in shares of PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares during the period. Finally, AJOVista LLC bought a new stake in shares of PDD during the 4th quarter valued at about $103,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Stock Performance

NASDAQ PDD opened at $133.88 on Wednesday. The company has a fifty day simple moving average of $141.72 and a 200 day simple moving average of $134.61. PDD Holdings Inc. has a 12-month low of $67.55 and a 12-month high of $164.69. 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 company has a market cap of $184.20 billion, a P/E ratio of 17.73, a PEG ratio of 0.23 and a beta of 0.63.

PDD (NASDAQ:PDD) last posted 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 business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. Sell-side analysts predict that PDD Holdings Inc. will post 11.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on PDD shares. Sanford C. Bernstein boosted their price target on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. UBS Group increased their target price on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Barclays raised their price target on shares of 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 upped their price objective for the company from $145.00 to $184.00 in a report on Friday, May 24th. Finally, Jefferies Financial Group raised their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus 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.