Creative Planning Buys 4,680 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Creative Planning increased its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 29.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,625 shares of the company's stock after purchasing an additional 4,680 shares during the quarter. Creative Planning's holdings in PDD were worth $2,742,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Hhlr Advisors LTD. boosted its position in 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 acquiring an additional 2,760,100 shares during the last quarter. Acadian Asset Management LLC boosted its position in 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 acquiring an additional 1,904,155 shares during the last quarter. Tairen Capital Ltd boosted its position 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 acquiring an additional 1,788,076 shares during the last quarter. Dragoneer Investment Group LLC boosted its position in 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 acquiring an additional 1,540,346 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in PDD during the second quarter valued at $176,332,000. Institutional investors own 29.07% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on PDD. Benchmark cut their price target on shares of PDD from $230.00 to $185.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Bank of America cut their price target on shares of PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Sanford C. Bernstein dropped their price objective on shares of PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a report on Tuesday, August 27th. Citigroup lowered 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 report on Tuesday, August 27th. Finally, Macquarie lowered shares of PDD from an "outperform" rating to a "neutral" rating in a 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, PDD has a consensus rating of "Buy" and a consensus price target of $177.78.

PDD Trading Up 1.1 %

NASDAQ:PDD opened at $154.27 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The firm 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 0.71. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The firm has a 50-day moving average price of $120.06 and a two-hundred day moving average price of $129.39.

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