PDD Holdings Inc. (NASDAQ:PDD) is Origin Asset Management LLP’s Largest Position

Origin Asset Management LLP lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 980,548 shares of the company’s stock after buying an additional 120,001 shares during the period. PDD makes up approximately 38.4% of Origin Asset Management LLP’s holdings, making the stock its largest holding. Origin Asset Management LLP owned about 0.07% of PDD worth $143,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SC US Ttgp LTD. raised its stake in shares of PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Vanguard Group Inc. raised its position in PDD by 38.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in PDD by 14.4% in the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after buying an additional 4,501,126 shares during the period. FMR LLC grew its position in shares of PDD by 32.6% in the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after buying an additional 4,334,186 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new position in shares of PDD during the fourth quarter valued at approximately $235,666,000. Institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

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

PDD Stock Up 10.5 %

Shares of NASDAQ:PDD traded up $13.05 during trading on Thursday, reaching $137.54. 21,426,170 shares of the stock traded hands, compared to its average volume of 8,526,034. PDD Holdings Inc. has a 52-week low of $59.67 and a 52-week high of $152.99. The stock has a market cap of $181.50 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. The stock has a 50-day moving average of $121.35 and a two-hundred day moving average of $127.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93.

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