PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,868 shares of the company’s stock after buying an additional 836 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in PDD were worth $2,029,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its holdings in PDD by 294.4% in 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. Turim 21 Investimentos Ltda. acquired a new stake in PDD during the third quarter worth about $55,000. AJOVista LLC bought a new position in PDD in the fourth quarter worth about $103,000. Tennessee Valley Asset Management Partners acquired a new position in PDD in the fourth quarter valued at approximately $144,000. Finally, Shen Neil Nanpeng bought a new position in shares of PDD during the third quarter valued at approximately $175,000. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Stock Up 5.9 %

PDD stock traded up $9.12 during midday trading on Friday, reaching $162.75. The company had a trading volume of 8,132,099 shares, compared to its average volume of 8,864,088. PDD Holdings Inc. has a 1 year low of $59.98 and a 1 year high of $164.69. The company has a market capitalization of $223.92 billion, a P/E ratio of 21.66, a PEG ratio of 0.38 and a beta of 0.67. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $127.65 and a two-hundred day moving average of $130.99.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 48.69% and a net margin of 26.93%. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. On average, equities research analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PDD. UBS Group boosted their target price on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America increased their price objective on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein boosted their price target on PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Finally, Jefferies Financial Group increased 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. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $178.77.

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.