Sumitomo Mitsui Trust Holdings Inc. Purchases 22,243 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,468,849 shares of the company’s stock after purchasing an additional 22,243 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.11% of PDD worth $214,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Captrust Financial Advisors lifted its position in shares of PDD by 108.5% during the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 331 shares in the last quarter. SRS Capital Advisors Inc. lifted its position 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 acquiring an additional 209 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of PDD during the fourth quarter worth $43,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of PDD during the third quarter worth $55,000. Finally, Wahed Invest LLC purchased a new stake in shares of PDD during the first quarter worth $70,000. 29.07% of the stock is owned by institutional investors.

PDD Stock Down 4.6 %

Shares of NASDAQ:PDD opened at $115.50 on Monday. The stock’s 50-day moving average price is $123.54 and its 200-day moving average price is $125.50. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99. The stock has a market capitalization of $152.41 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 0.30 and a beta of 0.67. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, equities analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup increased their price objective on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Benchmark increased their price objective on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a research report on Monday, March 11th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $146.85.

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.