150,735 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by AI Squared Management Ltd

AI Squared Management Ltd bought a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, Holdings Channel.com reports. The firm bought 150,735 shares of the company’s stock, valued at approximately $22,054,000. PDD accounts for 28.1% of AI Squared Management Ltd’s investment portfolio, making the stock its largest holding.

Several other large investors have also modified their holdings of the business. SRS Capital Advisors Inc. boosted 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 buying an additional 209 shares during the period. Turim 21 Investimentos Ltda. purchased a new position in PDD in the third quarter valued at $55,000. AJOVista LLC purchased a new position in shares of PDD in the 4th quarter valued at about $103,000. Tennessee Valley Asset Management Partners acquired a new position in PDD during the 4th quarter worth approximately $144,000. Finally, Shen Neil Nanpeng acquired a new stake in shares of PDD during the 3rd quarter worth about $175,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

PDD has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a research note on Monday, March 11th. Benchmark upped their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. decreased their target price on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Barclays increased their price objective on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group raised their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PDD currently has an average rating of “Moderate Buy” and an average target price of $146.85.

PDD Price Performance

Shares of NASDAQ:PDD traded down $2.70 during trading on Thursday, hitting $136.46. 4,449,142 shares of the stock were exchanged, compared to its average volume of 8,436,522. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99. The company has a market cap of $180.07 billion, a PE ratio of 24.08, a P/E/G ratio of 0.36 and a beta of 0.67. The company has a fifty day moving average price of $122.15 and a two-hundred day moving average price of $128.17. 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 announced its earnings results 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 net margin of 24.23% and a return on equity of 39.10%. The company had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. On average, analysts forecast that PDD Holdings Inc. will post 7.85 EPS for the current year.

PDD Company 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.