Hsbc Holdings PLC Raises Position in PDD Holdings Inc. (NASDAQ:PDD)

Hsbc Holdings PLC lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDDFree Report) by 109.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,883,200 shares of the company’s stock after acquiring an additional 1,507,973 shares during the quarter. Hsbc Holdings PLC owned 0.22% of PDD worth $421,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates raised its holdings in PDD by 156.5% in the third quarter. Raymond James & Associates now owns 8,736 shares of the company’s stock valued at $857,000 after acquiring an additional 5,330 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of PDD by 18.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,443 shares of the company’s stock worth $8,281,000 after purchasing an additional 12,986 shares during the last quarter. Ieq Capital LLC lifted its position in shares of PDD by 19.8% during the 3rd quarter. Ieq Capital LLC now owns 5,259 shares of the company’s stock worth $516,000 after purchasing an additional 870 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of PDD by 8.1% during the third quarter. Victory Capital Management Inc. now owns 860,389 shares of the company’s stock worth $84,378,000 after purchasing an additional 64,229 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in PDD by 152.1% in the third quarter. Los Angeles Capital Management LLC now owns 110,620 shares of the company’s stock valued at $10,849,000 after buying an additional 66,748 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 2.6 %

NASDAQ:PDD traded up $3.94 on Friday, hitting $157.57. 19,118,752 shares of the stock were exchanged, compared to its average volume of 10,809,987. The stock has a market cap of $216.80 billion, a PE ratio of 20.87, a PEG ratio of 0.41 and a beta of 0.67. PDD Holdings Inc. has a fifty-two week low of $59.98 and a fifty-two week high of $164.69. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $128.33 and a 200-day moving average of $131.49.

PDD (NASDAQ:PDDGet Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. As a group, equities analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PDD has been the subject of several analyst reports. Bank of America upped their price objective on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday. Benchmark boosted their price target on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised 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 research note on Friday. 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, Sanford C. Bernstein raised their target price on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, PDD presently has an average rating of “Buy” and a consensus price target of $182.31.

View Our Latest Report on PDD

PDD Company 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.

Recommended Stories

Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. (NASDAQ:PDDFree Report).

Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

Receive News & Ratings for PDD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDD and related companies with MarketBeat.com's FREE daily email newsletter.