19,802 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,802 shares of the company's stock, valued at approximately $2,670,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in PDD by 2.8% during the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company's stock valued at $4,868,859,000 after buying an additional 988,042 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in PDD by 16.2% in the 2nd 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 lifted its position in shares of PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock worth $715,055,000 after buying an additional 1,788,076 shares in the last quarter. Legal & General Group Plc boosted its position in shares of PDD by 13.0% during the 2nd quarter. Legal & General Group Plc now owns 5,332,414 shares of the company's stock valued at $708,944,000 after acquiring an additional 612,119 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its stake in PDD by 1.3% during the second quarter. E Fund Management Co. Ltd. now owns 4,619,649 shares of the company's stock worth $614,182,000 after acquiring an additional 58,370 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company's stock.

PDD Price Performance

Shares of NASDAQ PDD traded up $0.62 during midday trading on Monday, hitting $100.69. The company had a trading volume of 11,208,193 shares, compared to its average volume of 10,719,565. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $123.31 and a two-hundred day simple moving average of $129.39. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market capitalization of $138.54 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The company's quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 EPS. Equities research analysts anticipate that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PDD shares. Bank of America lowered their price objective on shares of PDD from $206.00 to $170.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. Nomura Securities upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Macquarie raised PDD from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Benchmark dropped their price objective on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a report on Friday. Finally, Citigroup downgraded PDD from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $173.40.

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.