AlpInvest Partners B.V. Raises Position in PDD Holdings Inc. (NASDAQ:PDD)

AlpInvest Partners B.V. increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 195.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,006 shares of the company’s stock after buying an additional 239,390 shares during the period. PDD accounts for about 17.3% of AlpInvest Partners B.V.’s investment portfolio, making the stock its biggest position. AlpInvest Partners B.V.’s holdings in PDD were worth $48,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC bought a new position in PDD during the second quarter valued at $3,097,000. Dimensional Fund Advisors LP lifted its holdings in shares of PDD by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,317,795 shares of the company’s stock valued at $308,190,000 after acquiring an additional 190,199 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in PDD by 22.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 409,668 shares of the company’s stock worth $54,465,000 after acquiring an additional 76,380 shares in the last quarter. Capital Wealth Planning LLC increased its stake in PDD by 41.4% during the second quarter. Capital Wealth Planning LLC now owns 24,025 shares of the company’s stock worth $3,194,000 after acquiring an additional 7,032 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in PDD by 263.0% during the second quarter. Envestnet Asset Management Inc. now owns 102,006 shares of the company’s stock valued at $13,562,000 after purchasing an additional 73,908 shares during the period. 29.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group boosted their target price on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America reduced their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Benchmark dropped their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, PDD currently has an average rating of “Buy” and an average price target of $177.78.

PDD Price Performance

Shares of PDD stock opened at $94.99 on Monday. The company’s 50-day simple moving average is $123.94 and its two-hundred day simple moving average is $129.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a market capitalization of $130.69 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.23 and a beta of 0.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. The company had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. PDD’s revenue was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 earnings per share. As a group, equities analysts anticipate that PDD Holdings Inc. will post 11.05 EPS for the current year.

PDD Company 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.