Sylebra Capital LLC Trims Stake in PDD Holdings Inc. (NASDAQ:PDD)

Sylebra Capital LLC lessened its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 54.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,955 shares of the company's stock after selling 193,247 shares during the period. PDD makes up about 0.8% of Sylebra Capital LLC's portfolio, making the stock its 23rd largest holding. Sylebra Capital LLC's holdings in PDD were worth $21,266,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PDD. Future Financial Wealth Managment LLC bought a new stake in shares of PDD during the 1st quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD during the 2nd quarter worth $32,000. Richardson Financial Services Inc. lifted its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock worth $32,000 after buying an additional 233 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of PDD during the 2nd quarter worth $40,000. Finally, Mather Group LLC. lifted its position in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company's stock worth $51,000 after buying an additional 354 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on PDD. Bank of America dropped their target price on PDD from $206.00 to $170.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. Daiwa America upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Nomura Securities upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Benchmark dropped their target price on PDD from $230.00 to $185.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. Finally, Macquarie downgraded PDD from an "outperform" rating to a "neutral" rating in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $177.78.

PDD Stock Down 0.4 %

PDD stock traded down $0.57 during mid-day trading on Monday, reaching $134.81. The stock had a trading volume of 34,001,195 shares, compared to its average volume of 10,288,839. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock's 50-day simple moving average is $118.45 and its 200-day simple moving average is $128.63. The firm has a market capitalization of $185.48 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 0.28 and a beta of 0.69.

PDD (NASDAQ:PDD - Get Free Report) last announced 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 company had revenue of $97.06 billion for the quarter, compared to analysts' expectations of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. PDD's quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. On average, sell-side analysts forecast that PDD Holdings Inc. will post 11.05 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.