Franchise Capital Ltd Reduces Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Franchise Capital Ltd cut its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 25.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 846,224 shares of the company's stock after selling 291,997 shares during the period. PDD makes up about 41.1% of Franchise Capital Ltd's investment portfolio, making the stock its largest holding. Franchise Capital Ltd owned about 0.06% of PDD worth $114,079,000 as of its most recent SEC filing.

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

PDD Stock Up 1.1 %

Shares of PDD stock traded up $1.65 during midday trading on Friday, reaching $154.27. 21,059,683 shares of the company's stock traded hands, compared to its average volume of 10,596,437. 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 52 week low of $88.01 and a 52 week high of $164.69. The company's 50 day simple moving average is $120.06 and its 200 day simple moving average is $129.38. The company has a market cap of $212.26 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 0.33 and a beta of 0.69.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter in the prior year, the company posted $1.27 EPS. The firm's revenue was up 85.7% on a year-over-year basis. Equities analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PDD shares. Daiwa America upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Bank of America dropped their price target on PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. Jefferies Financial Group reduced their price objective on shares of PDD from $193.00 to $151.00 and set a "buy" rating for the company in a research note on Monday, August 26th. Citigroup downgraded shares of PDD from a "buy" rating to a "neutral" rating and reduced their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of "Buy" and a consensus price target of $177.78.

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.