Fullerton Fund Management Co Ltd. Has $94.41 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Fullerton Fund Management Co Ltd. trimmed its holdings in shares of PDD Holdings Inc. (NASDAQ:PDDFree Report) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 645,266 shares of the company’s stock after selling 161,153 shares during the period. PDD accounts for about 5.5% of Fullerton Fund Management Co Ltd.’s investment portfolio, making the stock its 5th biggest holding. Fullerton Fund Management Co Ltd.’s holdings in PDD were worth $94,409,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PDD. SC US Ttgp LTD. boosted its holdings in 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 purchasing an additional 45,048,300 shares during the last quarter. Norges Bank acquired a new stake in PDD during the fourth quarter worth about $1,075,172,000. Vanguard Group Inc. boosted its stake in shares of PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares in the last quarter. Baillie Gifford & Co. boosted its position in PDD by 14.4% during the 3rd 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 during the period. Finally, FMR LLC boosted its position in PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after buying an additional 4,334,186 shares during the period. Institutional investors own 29.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PDD. Benchmark lifted their price objective on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. reduced their price target 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. Citigroup lifted their price target on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Finally, Sanford C. Bernstein lifted their price target on shares of PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $188.33.

View Our Latest Research Report on PDD

PDD Stock Performance

PDD stock traded up $0.07 during midday trading on Thursday, reaching $151.07. The stock had a trading volume of 4,552,189 shares, compared to its average volume of 8,942,620. The firm’s 50-day moving average price is $135.33 and its 200 day moving average price is $134.64. PDD Holdings Inc. has a 12 month low of $66.40 and a 12 month high of $164.69. The firm has a market capitalization of $207.85 billion, a PE ratio of 20.11, a P/E/G ratio of 0.26 and a beta of 0.64. 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 (NASDAQ:PDDGet Free Report) last posted its quarterly earnings data 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. The company had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. As a group, research analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

PDD 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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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