Sei Investments Co. Acquires 135,453 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Sei Investments Co. boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDDFree Report) by 104.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,696 shares of the company’s stock after acquiring an additional 135,453 shares during the quarter. Sei Investments Co.’s holdings in PDD were worth $38,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Connectus Wealth LLC grew its stake in shares of PDD by 9.4% in the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after purchasing an additional 590 shares during the last quarter. Natixis Investment Managers International acquired a new stake in shares of PDD in the fourth quarter valued at about $2,056,000. Quadrature Capital Ltd bought a new position in shares of PDD during the fourth quarter worth about $20,991,000. Seven Eight Capital LP acquired a new position in shares of PDD in the fourth quarter worth approximately $715,000. Finally, Prudential PLC boosted its holdings in PDD by 2.3% in the fourth quarter. Prudential PLC now owns 674,654 shares of the company’s stock valued at $98,709,000 after acquiring an additional 15,079 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 3.2 %

NASDAQ PDD opened at $148.48 on Tuesday. PDD Holdings Inc. has a 52 week low of $66.40 and a 52 week high of $164.69. The business has a 50 day moving average price of $134.13 and a 200-day moving average price of $134.33. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The company has a market cap of $204.29 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDDGet Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 26.93% and a return on equity of 45.04%. The business had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. As a group, equities analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PDD shares. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Jefferies Financial Group lifted 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. Barclays boosted their price objective on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Citigroup raised their target price on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. cut their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PDD presently has a consensus rating of “Buy” and an average price target of $188.33.

View Our Latest Research Report on PDD

PDD 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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