PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Fiera Capital Corp

Fiera Capital Corp boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 172.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,180 shares of the company's stock after acquiring an additional 8,971 shares during the quarter. Fiera Capital Corp's holdings in PDD were worth $1,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDD. Acadian Asset Management LLC increased its stake in PDD by 107.8% during the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company's stock worth $487,984,000 after acquiring an additional 1,904,155 shares during the last quarter. Tairen Capital Ltd boosted its position in shares of PDD by 49.8% during 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 during the period. Hhlr Advisors LTD. boosted its position in shares of PDD by 16.6% during the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company's stock worth $1,370,767,000 after buying an additional 1,680,600 shares during the period. Dragoneer Investment Group LLC boosted its position in shares of PDD by 142.6% during the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company's stock worth $348,440,000 after buying an additional 1,540,346 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of PDD during the second quarter worth $176,332,000. Institutional investors and hedge funds own 29.07% of the company's stock.

PDD Stock Down 6.4 %

PDD stock traded down $8.06 during midday trading on Friday, reaching $117.81. The company's stock had a trading volume of 15,150,266 shares, compared to its average volume of 9,259,465. 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 quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The company has a market cap of $162.09 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.28 and a beta of 0.71. The business has a 50-day simple moving average of $119.63 and a 200-day simple moving average of $131.02.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating 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 company had revenue of $97.06 billion for the quarter, compared to analysts' expectations of $100.17 billion. During the same period last year, the firm earned $1.27 earnings per share. PDD's quarterly revenue was up 85.7% on a year-over-year basis. On average, research analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PDD shares. Nomura Securities upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Jefferies Financial Group lowered 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. Sanford C. Bernstein lowered their price target on PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research report on Tuesday, August 27th. Benchmark decreased their target price on PDD from $230.00 to $185.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. Finally, Citigroup lowered PDD from a "buy" rating to a "neutral" rating and decreased their target price for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, PDD currently has an average rating of "Buy" and an average price target of $182.40.

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.