MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $14.73 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 11.7% in the 1st quarter, HoldingsChannel reports. The firm owned 126,718 shares of the company’s stock after selling 16,796 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in PDD were worth $14,731,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SC US Ttgp LTD. raised its position in shares of PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Norges Bank acquired a new position in PDD during the 4th quarter valued at about $1,075,172,000. Vanguard Group Inc. grew its position in shares of PDD by 38.0% during the 3rd 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 during the period. Hhlr Advisors LTD. raised its stake in shares of PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after buying an additional 2,760,100 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in PDD by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after buying an additional 2,292,068 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Stock Up 0.7 %

Shares of NASDAQ:PDD traded up $0.90 during midday trading on Tuesday, reaching $133.88. 3,255,014 shares of the company were exchanged, compared to its average volume of 8,850,666. The firm has a market cap of $184.20 billion, a PE ratio of 17.73, a P/E/G ratio of 0.23 and a beta of 0.63. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a fifty-two week low of $67.55 and a fifty-two week high of $164.69. The stock has a fifty day simple moving average of $141.72 and a two-hundred day simple moving average of $134.61.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $1.19. The firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. As a group, sell-side analysts forecast that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PDD shares. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $184.00 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 report on Thursday, May 23rd. Barclays upped their price target on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. UBS Group lifted their price objective on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Jefferies Financial Group increased their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $188.33.

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.