AlpInvest Partners B.V. Has $48.13 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

AlpInvest Partners B.V. increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 195.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 362,006 shares of the company’s stock after purchasing an additional 239,390 shares during the quarter. PDD accounts for 17.3% of AlpInvest Partners B.V.’s portfolio, making the stock its biggest holding. AlpInvest Partners B.V.’s holdings in PDD were worth $48,129,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in PDD in the 2nd quarter worth approximately $32,000. Future Financial Wealth Managment LLC bought a new stake in shares of PDD in the first quarter worth $29,000. Mather Group LLC. increased its position in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in PDD in the fourth quarter valued at about $59,000. Finally, EverSource Wealth Advisors LLC boosted its position in PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Down 2.4 %

Shares of PDD stock opened at $94.99 on Monday. The stock has a fifty day simple moving average of $123.94 and a two-hundred day simple moving average of $129.36. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The firm has a market capitalization of $130.69 billion, a PE ratio of 12.58, a PEG ratio of 0.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. On average, analysts predict that PDD Holdings Inc. will post 11.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Benchmark reduced their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Sanford C. Bernstein decreased their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $177.78.

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.