Banque Cantonale Vaudoise Purchases 9,485 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Banque Cantonale Vaudoise boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 36.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,318 shares of the company's stock after purchasing an additional 9,485 shares during the period. Banque Cantonale Vaudoise's holdings in PDD were worth $4,762,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in shares of PDD by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company's stock worth $4,868,859,000 after purchasing an additional 988,042 shares during the period. Hhlr Advisors LTD. lifted its holdings in PDD by 16.6% in the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company's stock valued at $1,370,767,000 after buying an additional 1,680,600 shares during the period. Assenagon Asset Management S.A. boosted its position in PDD by 16.2% during the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company's stock valued at $786,237,000 after acquiring an additional 826,525 shares during the last quarter. Tairen Capital Ltd grew its holdings in PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock worth $715,055,000 after acquiring an additional 1,788,076 shares during the period. Finally, Legal & General Group Plc raised its position in shares of PDD by 13.0% in the 2nd quarter. Legal & General Group Plc now owns 5,332,414 shares of the company's stock worth $708,944,000 after acquiring an additional 612,119 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company's stock.

PDD Stock Down 1.0 %

Shares of NASDAQ PDD traded down $1.19 during trading on Wednesday, hitting $116.49. The stock had a trading volume of 12,831,524 shares, compared to its average volume of 10,565,792. 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 fifty day moving average of $122.58 and a two-hundred day moving average of $130.31. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a market capitalization of $160.28 billion, a PE ratio of 12.68, a PEG ratio of 0.27 and a beta of 0.71.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same period last year, the company posted $1.27 earnings per share. PDD's quarterly revenue was up 85.7% compared to the same quarter last year. As a group, equities research analysts forecast that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PDD. Citigroup lowered shares of PDD from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Jefferies Financial Group cut their price objective on shares of PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. Sanford C. Bernstein decreased their target price on PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research report on Tuesday, August 27th. Nomura Securities upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Finally, Bank of America decreased their price objective on PDD from $206.00 to $170.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, PDD currently has a consensus rating of "Buy" and an average target price of $182.40.

About PDD

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.