PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Monolith Management Ltd

Monolith Management Ltd reduced its position in PDD Holdings Inc. (NASDAQ:PDD) by 33.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,500 shares of the company’s stock after selling 121,500 shares during the period. PDD comprises about 11.3% of Monolith Management Ltd’s portfolio, making the stock its 3rd biggest holding. Monolith Management Ltd’s holdings in PDD were worth $28,423,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PDD. Baillie Gifford & Co. raised its position in PDD by 6.4% during 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. raised its position in PDD by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after acquiring an additional 62,312 shares during the period. SC US Ttgp LTD. raised its position in PDD by 353.6% during the third quarter. SC US Ttgp LTD. now owns 14,447,097 shares of the company’s stock worth $1,416,827,000 after acquiring an additional 11,262,075 shares during the period. Hhlr Advisors LTD. raised its position in 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 acquiring an additional 2,760,100 shares during the period. Finally, Norges Bank acquired a new position in PDD during the fourth quarter worth $1,075,172,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Sanford C. Bernstein increased their target price 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. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Jefferies Financial Group increased their target price on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Benchmark increased their target price on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, PDD currently has an average rating of “Buy” and an average target price of $188.33.

PDD Trading Up 2.3 %

PDD stock traded up $3.18 during trading on Friday, reaching $142.42. 8,882,968 shares of the stock were exchanged, compared to its average volume of 6,379,559. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $143.16 and a 200-day moving average price of $134.18. PDD Holdings Inc. has a 1 year low of $74.48 and a 1 year high of $164.69. The firm has a market capitalization of $195.95 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 0.24 and a beta of 0.63.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $10.62 billion. On average, research analysts predict that PDD Holdings Inc. will post 11.41 earnings per share for the current 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.