Signaturefd LLC Has $1.37 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Signaturefd LLC lessened its stake in PDD Holdings Inc. (NASDAQ:PDD) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,394 shares of the company’s stock after selling 474 shares during the quarter. Signaturefd LLC’s holdings in PDD were worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Triasima Portfolio Management inc. acquired a new position in shares of PDD in the 4th quarter valued at approximately $1,813,000. Parametrica Management Ltd raised its position in PDD by 67.6% during the third quarter. Parametrica Management Ltd now owns 41,400 shares of the company’s stock valued at $4,060,000 after purchasing an additional 16,700 shares in the last quarter. Vanguard Group Inc. lifted its stake in PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after purchasing an additional 6,637,418 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of PDD in the 4th quarter valued at $13,379,000. Finally, Nordea Investment Management AB increased its stake in shares of PDD by 7.2% in the 4th quarter. Nordea Investment Management AB now owns 297,090 shares of the company’s stock valued at $43,334,000 after purchasing an additional 20,045 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Benchmark upped 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. Citigroup raised their price target on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a research report on Monday, March 11th. Jefferies Financial Group raised their target price on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, 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 report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Stock Down 0.2 %

Shares of PDD opened at $113.49 on Monday. The stock’s 50-day moving average price is $122.31 and its two-hundred day moving average price is $126.06. PDD Holdings Inc. has a 12 month low of $59.67 and a 12 month high of $152.99. The company has a market capitalization of $149.76 billion, a PE ratio of 19.81, a PEG ratio of 0.29 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 issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. On average, analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current 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.