Freemont Capital Pte Ltd Has $3.51 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Freemont Capital Pte Ltd increased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 23.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,000 shares of the company's stock after purchasing an additional 5,000 shares during the quarter. PDD makes up about 16.3% of Freemont Capital Pte Ltd's portfolio, making the stock its 3rd largest holding. Freemont Capital Pte Ltd's holdings in PDD were worth $3,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL grew its holdings in shares of PDD by 34.6% during the first quarter. Blair William & Co. IL now owns 3,102 shares of the company's stock worth $361,000 after purchasing an additional 798 shares during the last quarter. Banco Santander S.A. acquired a new position in PDD in the 1st quarter valued at approximately $558,000. Vanguard Group Inc. increased its position in PDD by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company's stock valued at $2,820,408,000 after acquiring an additional 97,648 shares during the period. Edgestream Partners L.P. raised its stake in shares of PDD by 50.8% during the first quarter. Edgestream Partners L.P. now owns 6,276 shares of the company's stock valued at $730,000 after acquiring an additional 2,113 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of PDD by 19.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 45,342 shares of the company's stock worth $5,271,000 after purchasing an additional 7,337 shares during the last quarter. Institutional investors own 29.07% of the company's stock.

PDD Stock Up 1.5 %

NASDAQ:PDD traded up $1.67 on Friday, hitting $114.00. The stock had a trading volume of 8,874,029 shares, compared to its average volume of 8,364,797. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market cap of $156.85 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71. The firm's fifty day simple moving average is $121.59 and its two-hundred day simple moving average is $130.57. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The company's revenue for the quarter was up 85.7% on a year-over-year basis. Analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on PDD. Jefferies Financial Group cut their target price on PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Citigroup downgraded shares of PDD from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein cut their price target on PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a report on Tuesday, August 27th. Benchmark decreased their price target on shares of PDD from $230.00 to $185.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Finally, Daiwa America upgraded PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price 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.