B. Metzler seel. Sohn & Co. Holding AG Invests $5.66 Million in PDD Holdings Inc. (NASDAQ:PDD)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 41,961 shares of the company's stock, valued at approximately $5,657,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on PDD shares. Bank of America reduced their price objective on PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. Barclays reduced their price objective on PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 27th. Sanford C. Bernstein dropped their target price on PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their target price on PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. Finally, Macquarie raised PDD from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, PDD currently has an average rating of "Buy" and an average target price of $182.40.

PDD Stock Performance

Shares of PDD stock traded down $1.19 during trading hours on Wednesday, reaching $116.49. The company's stock had a trading volume of 12,831,524 shares, compared to its average volume of 10,565,792. The company's 50 day simple moving average is $123.00 and its 200 day simple moving average is $130.21. 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 Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The stock has a market cap of $160.28 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same period last year, the firm posted $1.27 EPS. The company's revenue for the quarter was up 85.7% on a year-over-year basis. As a group, analysts expect 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.