Victory Capital Management Inc. Buys 60,991 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Victory Capital Management Inc. lifted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 921,380 shares of the company’s stock after purchasing an additional 60,991 shares during the quarter. Victory Capital Management Inc. owned 0.07% of PDD worth $134,807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. RWC Asset Advisors US LLC grew its holdings in shares of PDD by 2.1% in the fourth quarter. RWC Asset Advisors US LLC now owns 1,923,791 shares of the company’s stock valued at $281,470,000 after purchasing an additional 40,082 shares in the last quarter. Dohj LLC purchased a new position in shares of PDD in the fourth quarter valued at $635,000. Headlands Technologies LLC purchased a new position in shares of PDD in the fourth quarter valued at $229,000. Truist Financial Corp grew its holdings in shares of PDD by 12.8% in the fourth quarter. Truist Financial Corp now owns 3,143 shares of the company’s stock valued at $460,000 after purchasing an additional 357 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of PDD by 6.6% in the fourth quarter. Yousif Capital Management LLC now owns 33,804 shares of the company’s stock valued at $4,946,000 after purchasing an additional 2,090 shares in the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Down 0.6 %

NASDAQ:PDD opened at $124.49 on Thursday. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99. The company has a market cap of $164.28 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. The stock has a fifty day simple moving average of $121.35 and a 200-day simple moving average of $127.05. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03.

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

Analyst Ratings Changes

Several research analysts have commented on PDD shares. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a research note on Monday, March 11th. Benchmark lifted their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group lifted their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Citigroup lifted their price objective on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, Barclays lifted their price objective on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $146.85.

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.