5,962 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,962 shares of the company’s stock, valued at approximately $872,000.

A number of other hedge funds have also bought and sold shares of the stock. SC US Ttgp LTD. boosted its holdings in shares of PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Norges Bank purchased a new stake in PDD during the fourth quarter worth $1,075,172,000. Vanguard Group Inc. boosted its holdings 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 buying an additional 6,637,418 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in PDD by 14.4% during the third quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after buying an additional 4,501,126 shares in the last quarter. Finally, FMR LLC lifted its holdings in PDD by 32.6% during the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after purchasing an additional 4,334,186 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

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

PDD Trading Down 0.9 %

NASDAQ PDD opened at $145.45 on Wednesday. PDD Holdings Inc. has a 12 month low of $59.98 and a 12 month high of $152.99. The company has a 50-day moving average of $126.55 and a 200-day moving average of $130.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market cap of $200.12 billion, a P/E ratio of 25.38, a P/E/G ratio of 0.38 and a beta of 0.67.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. As a group, equities analysts predict that PDD Holdings Inc. will post 7.85 earnings per share 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.