Healthcare of Ontario Pension Plan Trust Fund Sells 189,849 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 33.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,472 shares of the company's stock after selling 189,849 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in PDD were worth $51,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new stake in PDD in the third quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new stake in PDD in the third quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD in the second quarter worth approximately $32,000. Richardson Financial Services Inc. grew its stake 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 acquiring an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in PDD in the third quarter valued at approximately $34,000. 29.07% of the stock is currently owned by institutional investors.

PDD Stock Performance

Shares of PDD traded down $0.51 during mid-day trading on Thursday, hitting $98.80. The stock had a trading volume of 9,322,439 shares, compared to its average volume of 10,699,423. The firm has a market cap of $135.94 billion, a P/E ratio of 9.65, a PEG ratio of 0.26 and a beta of 0.71. The business has a fifty day moving average price of $123.34 and a 200-day moving average price of $128.92. 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 52 week low of $88.01 and a 52 week high of $164.69.

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

Analyst Ratings Changes

A number of equities research analysts have commented on PDD shares. Nomura Securities raised PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Citigroup cut 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. Bank of America reduced their price objective on PDD from $206.00 to $170.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. JPMorgan Chase & Co. cut PDD from an "overweight" rating to a "neutral" rating and cut their target price for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Sanford C. Bernstein cut their target price on PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $173.40.

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.