Natixis Increases Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Natixis increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 556.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,897 shares of the company’s stock after purchasing an additional 12,629 shares during the quarter. Natixis’ holdings in PDD were worth $1,732,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PDD. Norges Bank purchased a new position in shares of PDD in the fourth quarter valued at $1,075,172,000. Assenagon Asset Management S.A. grew its position in PDD by 15,755.1% during the first quarter. Assenagon Asset Management S.A. now owns 5,087,255 shares of the company’s stock worth $591,393,000 after buying an additional 5,055,169 shares in the last quarter. Hhlr Advisors LTD. grew 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 buying an additional 2,760,100 shares in the last quarter. Baillie Gifford & Co. grew 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 buying an additional 2,292,068 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new position in PDD during the fourth quarter worth about $235,666,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group boosted their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Benchmark boosted their target price on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays lifted their price target on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Citigroup lifted their price target on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $184.00 in a research note on Friday, May 24th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PDD presently has a consensus rating of “Buy” and a consensus target price of $188.33.

PDD Trading Down 1.6 %

Shares of NASDAQ PDD traded down $2.13 during midday trading on Thursday, reaching $129.74. The company had a trading volume of 4,505,360 shares, compared to its average volume of 8,488,988. PDD Holdings Inc. has a one year low of $75.44 and a one year high of $164.69. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $142.39 and its 200-day moving average price is $133.40. The stock has a market cap of $178.51 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.23 and a beta of 0.63.

PDD (NASDAQ:PDD) last released its 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 return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.02 billion during the quarter, compared to analyst estimates of $10.62 billion. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

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.