Fisher Asset Management LLC Grows Position in PDD Holdings Inc. (NASDAQ:PDD)

Fisher Asset Management LLC grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 697,867 shares of the company's stock after purchasing an additional 84,901 shares during the period. Fisher Asset Management LLC owned approximately 0.05% of PDD worth $94,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in PDD by 107.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company's stock worth $487,984,000 after purchasing an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd raised its position in shares of PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock valued at $715,055,000 after buying an additional 1,788,076 shares in the last quarter. Dragoneer Investment Group LLC raised its position in PDD by 142.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company's stock worth $348,440,000 after purchasing an additional 1,540,346 shares during the period. Renaissance Technologies LLC purchased a new position in PDD in the 2nd quarter worth $176,332,000. Finally, Baillie Gifford & Co. raised its position in 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. Institutional investors and hedge funds own 29.07% of the company's stock.

PDD Trading Down 1.4 %

Shares of PDD stock traded down $1.38 during trading on Tuesday, hitting $99.31. The stock had a trading volume of 6,660,375 shares, compared to its average volume of 10,705,159. The firm's fifty day simple moving average is $123.31 and its 200-day simple moving average is $129.39. The stock has a market cap of $136.64 billion, a PE ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71. 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 Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD - Get Free Report) last posted its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 46.08%. The company's revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 EPS. As a group, sell-side analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PDD shares. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $170.00 to $105.00 in a report on Friday. Citigroup lowered shares of PDD from a "buy" rating to a "neutral" rating and cut their price target for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Jefferies Financial Group cut their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Daiwa America raised shares of PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Finally, Benchmark cut their target price on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.