CloudAlpha Capital Management Limited Hong Kong Takes $25.08 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

CloudAlpha Capital Management Limited Hong Kong purchased a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 186,000 shares of the company's stock, valued at approximately $25,075,000. PDD makes up about 1.5% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 12th largest holding.

Several other institutional investors have also modified their holdings of PDD. Venturi Wealth Management LLC acquired a new position in shares of PDD during the third quarter worth $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PDD in the second quarter valued at about $32,000. Richardson Financial Services Inc. raised its holdings in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after buying an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD in the third quarter valued at about $34,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of PDD in the second quarter valued at about $40,000. Institutional investors and hedge funds own 29.07% of the company's stock.

Analyst Ratings Changes

PDD has been the subject of several analyst reports. Daiwa America raised shares of PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Citigroup lowered shares of PDD from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Benchmark lowered their target price on shares of PDD from $230.00 to $185.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of "Buy" and an average target price of $182.40.

PDD Trading Down 1.3 %

Shares of PDD stock traded down $1.46 during mid-day trading on Thursday, reaching $111.95. The company's stock had a trading volume of 5,239,547 shares, compared to its average volume of 10,570,918. The company's 50 day simple moving average is $120.78 and its 200-day simple moving average is $130.75. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $154.03 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results 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. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The firm's quarterly revenue was up 85.7% on a year-over-year basis. On average, research analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

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.