Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 47.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 572,321 shares of the company's stock after selling 513,679 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in PDD were worth $76,090,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hhlr Advisors LTD. boosted its position in shares of PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company's stock valued at $1,479,333,000 after purchasing an additional 2,760,100 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of PDD by 107.8% during the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company's stock valued at $487,984,000 after purchasing an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd boosted its position in shares of 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. Dragoneer Investment Group LLC boosted its position in shares of PDD by 142.6% during the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company's stock valued at $348,440,000 after purchasing an additional 1,540,346 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of PDD during the second quarter valued at approximately $176,332,000. 29.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PDD. Nomura Securities upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Jefferies Financial Group dropped 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. Benchmark dropped their target price on PDD from $230.00 to $185.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Citigroup downgraded PDD from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Finally, Daiwa America raised PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $177.78.

PDD Price Performance

Shares of NASDAQ PDD traded down $0.09 during mid-day trading on Thursday, reaching $152.62. The company's stock had a trading volume of 18,749,662 shares, compared to its average volume of 10,541,559. The firm has a market capitalization of $209.99 billion, a PE ratio of 20.21, a P/E/G ratio of 0.33 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a fifty day moving average of $119.59 and a two-hundred day moving average of $129.20. 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 released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. As a group, sell-side analysts anticipate that PDD Holdings Inc. will post 11.05 EPS for the current fiscal 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.