PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,047 shares of the company’s stock after purchasing an additional 207 shares during the quarter. Lindbrook Capital LLC’s holdings in PDD were worth $299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SC US Ttgp LTD. grew its position in PDD by 1,414.4% in 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 period. Baillie Gifford & Co. grew its position in PDD by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock worth $5,553,962,000 after acquiring an additional 2,292,068 shares during the period. Vanguard Group Inc. grew its position in PDD by 38.0% in the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the period. FMR LLC grew its position in PDD by 32.6% in the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after acquiring an additional 4,334,186 shares during the period. Finally, Invesco Ltd. grew its position in PDD by 5.4% in the third quarter. Invesco Ltd. now owns 7,349,430 shares of the company’s stock worth $720,759,000 after acquiring an additional 376,947 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PDD Trading Down 0.2 %

NASDAQ:PDD opened at $113.49 on Monday. The firm has a market cap of $149.76 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The stock has a fifty day moving average price of $122.31 and a 200 day moving average price of $126.06. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. Sell-side analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

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.