Van ECK Associates Corp Has $3.07 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Van ECK Associates Corp reduced its stake in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,337 shares of the company’s stock after selling 1,443 shares during the quarter. Van ECK Associates Corp’s holdings in PDD were worth $3,073,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of PDD by 1.5% in the first quarter. Vanguard Group Inc. now owns 14,124,382 shares of the company’s stock valued at $566,528,000 after purchasing an additional 211,729 shares during the last quarter. Norges Bank bought a new position in PDD in the 4th quarter worth approximately $501,089,000. Krane Funds Advisors LLC lifted its holdings in shares of PDD by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 5,127,133 shares of the company’s stock worth $354,490,000 after buying an additional 760,327 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of PDD by 28.1% in the second quarter. Canada Pension Plan Investment Board now owns 4,962,806 shares of the company’s stock valued at $343,128,000 after acquiring an additional 1,089,700 shares during the period. Finally, E Fund Management Co. Ltd. grew its stake in shares of PDD by 19.8% in the second quarter. E Fund Management Co. Ltd. now owns 4,567,173 shares of the company’s stock worth $315,775,000 after acquiring an additional 754,604 shares during the last quarter. Institutional investors own 31.08% of the company’s stock.

PDD Trading Up 3.2 %

Shares of PDD stock opened at $131.57 on Tuesday. The company has a market capitalization of $173.62 billion, a P/E ratio of 29.57, a P/E/G ratio of 0.44 and a beta of 0.69. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $141.36 and a 200 day moving average price of $115.31.

PDD (NASDAQ:PDDGet Free Report) last posted its earnings results on Tuesday, November 28th. The company reported $11.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.94 by $2.67. The company had revenue of $68.84 billion during the quarter, compared to analysts’ expectations of $55.18 billion. PDD had a net margin of 23.25% and a return on equity of 34.07%. PDD’s quarterly revenue was up 93.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. Research analysts forecast that PDD Holdings Inc. will post 4.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PDD. UBS Group reissued a “buy” rating and issued a $137.00 price target (up from $115.00) on shares of PDD in a report on Wednesday, November 1st. Benchmark increased their target price on shares of PDD from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, The Goldman Sachs Group boosted their price target on PDD from $137.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $128.04.

Check Out Our Latest Stock Report on PDD

PDD Company 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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