PDD Holdings Inc. (NASDAQ:PDD) Position Decreased by Genesis Investment Management LLP

Genesis Investment Management LLP lessened its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 50.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 943,058 shares of the company’s stock after selling 958,352 shares during the period. PDD makes up approximately 27.0% of Genesis Investment Management LLP’s portfolio, making the stock its biggest holding. Genesis Investment Management LLP owned 0.07% of PDD worth $137,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PDD. Captrust Financial Advisors raised its holdings in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 331 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the period. Altshuler Shaham Ltd bought a new position in shares of PDD in the fourth quarter worth $43,000. Turim 21 Investimentos Ltda. bought a new position in shares of PDD in the third quarter worth $55,000. Finally, Wahed Invest LLC bought a new position in shares of PDD in the first quarter worth $70,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Down 0.4 %

Shares of NASDAQ:PDD traded down $0.43 during trading on Wednesday, reaching $113.09. 1,711,782 shares of the stock traded hands, compared to its average volume of 8,236,981. PDD Holdings Inc. has a 52-week low of $59.67 and a 52-week high of $152.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. The stock has a 50-day moving average of $123.16 and a two-hundred day moving average of $125.74. The stock has a market cap of $149.23 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 0.30 and a beta of 0.67.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion for 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, sell-side analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PDD. JPMorgan Chase & Co. decreased their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Barclays upped their target price 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. Jefferies Financial Group upped their target price 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. Citigroup upped their price target on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Benchmark upped their price target 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and an average price target of $146.85.

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.