BRIGHT VALLEY CAPITAL Ltd Trims Holdings in PDD Holdings Inc. (NASDAQ:PDD)

BRIGHT VALLEY CAPITAL Ltd trimmed its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 55.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,500 shares of the company's stock after selling 155,900 shares during the period. PDD comprises approximately 19.1% of BRIGHT VALLEY CAPITAL Ltd's portfolio, making the stock its 3rd largest position. BRIGHT VALLEY CAPITAL Ltd's holdings in PDD were worth $16,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PDD. Baillie Gifford & Co. increased its position in PDD by 1.0% during the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company's stock valued at $4,670,322,000 after acquiring an additional 348,130 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company's stock worth $2,820,408,000 after buying an additional 97,648 shares in the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of PDD by 16.6% in 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 in the last quarter. Assenagon Asset Management S.A. raised its stake in PDD by 16.2% during the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company's stock valued at $786,237,000 after purchasing an additional 826,525 shares in the last quarter. Finally, Tairen Capital Ltd raised its stake in PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock valued at $715,055,000 after purchasing an additional 1,788,076 shares in the last quarter. 29.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on PDD shares. Daiwa America upgraded shares of PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Jefferies Financial Group dropped their price objective on shares of PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a research note on Monday, August 26th. Citigroup cut shares of PDD from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein cut their target price on PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research note on Tuesday, August 27th. Finally, Nomura Securities upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Two research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $177.78.

PDD Stock Up 8.0 %

Shares of PDD traded up $10.83 on Tuesday, hitting $145.64. The company's stock had a trading volume of 24,259,776 shares, compared to its average volume of 10,362,532. The firm has a market capitalization of $200.38 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 0.28 and a beta of 0.69. The firm's fifty day moving average price is $118.46 and its 200-day moving average price is $128.72. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

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. The business 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%. The firm's revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. On average, equities research analysts expect that PDD Holdings Inc. will post 11.05 EPS for the current year.

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.