Comgest Global Investors S.A.S. Boosts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Comgest Global Investors S.A.S. increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 132.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,259 shares of the company's stock after buying an additional 18,408 shares during the period. Comgest Global Investors S.A.S.'s holdings in PDD were worth $4,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PDD. Venturi Wealth Management LLC acquired a new stake in shares of PDD in the third quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of PDD in the second quarter worth approximately $32,000. Richardson Financial Services Inc. grew its position 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 purchasing an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD in the third quarter valued at approximately $34,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of PDD in the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 29.07% of the company's stock.

PDD Stock Performance

Shares of PDD stock traded up $1.67 during mid-day trading on Friday, hitting $114.00. 8,874,029 shares of the stock were exchanged, compared to its average volume of 10,573,298. The stock's fifty day simple moving average is $121.59 and its two-hundred day simple moving average is $130.53. The stock has a market capitalization of $156.85 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. 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 (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter last year, the company posted $1.27 earnings per share. The business's quarterly revenue was up 85.7% compared to the same quarter last year. On average, analysts forecast that PDD Holdings Inc. will post 11.19 EPS for the current year.

Wall Street Analyst Weigh In

PDD has been the subject of a number of analyst reports. Daiwa America upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Citigroup lowered PDD from a "buy" rating to a "neutral" rating and dropped their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their price target on PDD from $193.00 to $151.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Bank of America cut their price target on shares of PDD from $206.00 to $170.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. Finally, Sanford C. Bernstein cut their price target on shares of PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a 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 company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target 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.