Sei Investments Co. Has $66.24 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Sei Investments Co. boosted its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 130.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 498,237 shares of the company's stock after acquiring an additional 282,199 shares during the period. Sei Investments Co.'s holdings in PDD were worth $66,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its stake in shares of PDD by 149.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company's stock valued at $34,501,000 after purchasing an additional 177,600 shares during the period. Hhlr Advisors LTD. lifted its stake in PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company's stock valued at $1,479,333,000 after buying an additional 2,760,100 shares during the period. Vanguard Group Inc. boosted its holdings in PDD by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company's stock worth $3,535,424,000 after buying an additional 62,312 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in PDD by 63.7% during the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company's stock worth $30,700,000 after buying an additional 89,853 shares during the last quarter. Finally, Connectus Wealth LLC grew its position in shares of PDD by 9.4% during the 4th quarter. Connectus Wealth LLC now owns 6,852 shares of the company's stock worth $1,003,000 after buying an additional 590 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock opened at $99.90 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market cap of $137.45 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The stock's 50-day moving average is $119.97 and its 200-day moving average is $128.45. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm 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%. The business's quarterly revenue was up 85.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. Equities analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PDD has been the topic of several recent analyst reports. Nomura Securities raised shares of PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Barclays decreased their price target on shares of PDD from $224.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, August 27th. Macquarie cut shares of PDD from an "outperform" rating to a "neutral" rating in a research report on Monday, August 26th. Benchmark reduced their target price on PDD from $230.00 to $185.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Finally, Citigroup downgraded PDD from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Two equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $177.78.

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.