PDD Holdings Inc. (NASDAQ:PDD) Stake Decreased by D1 Capital Partners L.P.

D1 Capital Partners L.P. trimmed its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 17.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 384,000 shares of the company's stock after selling 84,000 shares during the period. PDD accounts for approximately 1.0% of D1 Capital Partners L.P.'s portfolio, making the stock its 28th largest position. D1 Capital Partners L.P.'s holdings in PDD were worth $51,767,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PDD. Prospera Private Wealth LLC purchased a new stake in PDD during the third quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in PDD in the 3rd quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. grew its holdings in 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 during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of PDD in the third quarter valued at $34,000. Institutional investors and hedge funds own 29.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PDD shares. Benchmark lowered their price objective on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Macquarie raised PDD from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Barclays decreased their price target on shares of PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 27th. Citigroup downgraded shares of 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. Finally, Daiwa America raised shares of PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $173.40.

PDD Stock Down 2.3 %

PDD stock traded down $2.24 during midday trading on Friday, hitting $96.56. 9,595,622 shares of the company were exchanged, compared to its average volume of 10,694,676. The company has a market cap of $132.85 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. The company's fifty day moving average price is $123.31 and its 200-day moving average price is $128.71. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

PDD (NASDAQ:PDD - Get Free Report) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 46.08% and a net margin of 29.05%. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period last year, the firm earned $1.27 earnings per share. The company's revenue was up 85.7% on a year-over-year basis. On average, research analysts predict that PDD Holdings Inc. will post 10.24 EPS for the current fiscal year.

PDD Company 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.