E Fund Management Co. Ltd. Has $670.38 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

E Fund Management Co. Ltd. cut its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,581,940 shares of the company’s stock after selling 72,503 shares during the period. PDD accounts for 42.5% of E Fund Management Co. Ltd.’s portfolio, making the stock its largest holding. E Fund Management Co. Ltd. owned 0.35% of PDD worth $670,384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. 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 valued at $27,000 after purchasing an additional 209 shares during the last quarter. Turim 21 Investimentos Ltda. bought a new position in PDD in the 3rd quarter valued at about $55,000. AJOVista LLC bought a new stake in shares of PDD during the fourth quarter worth approximately $103,000. Tennessee Valley Asset Management Partners acquired a new position in shares of PDD in the fourth quarter valued at approximately $144,000. Finally, Shen Neil Nanpeng bought a new position in shares of PDD during the third quarter worth approximately $175,000. 29.07% of the stock is owned by institutional investors.

PDD Trading Down 2.0 %

Shares of PDD stock traded down $2.78 during midday trading on Thursday, reaching $136.38. The company had a trading volume of 5,549,183 shares, compared to its average volume of 8,449,984. The firm has a market cap of $179.97 billion, a PE ratio of 23.82, a P/E/G ratio of 0.36 and a beta of 0.67. The stock has a fifty day moving average price of $122.15 and a 200 day moving average price of $128.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93. PDD Holdings Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $152.99.

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. Jefferies Financial Group upped their price objective on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Benchmark raised their target price on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a 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 on the stock. in a research note on Monday, March 11th. Citigroup boosted their target price on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.85.

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.