Vontobel Holding Ltd. Acquires 27,567 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Vontobel Holding Ltd. increased its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,325 shares of the company's stock after purchasing an additional 27,567 shares during the quarter. Vontobel Holding Ltd.'s holdings in PDD were worth $31,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Ballentine Partners LLC grew its stake in shares of PDD by 4.6% during the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company's stock worth $359,000 after purchasing an additional 120 shares during the period. Parallel Advisors LLC increased its stake in shares of PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company's stock valued at $324,000 after acquiring an additional 122 shares during the last quarter. Legacy Capital Group California Inc. raised its position in shares of PDD by 6.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company's stock valued at $277,000 after acquiring an additional 133 shares during the period. Oppenheimer & Co. Inc. boosted its stake in PDD by 1.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,010 shares of the company's stock worth $1,629,000 after acquiring an additional 168 shares during the last quarter. Finally, CWM LLC grew its holdings in PDD by 19.3% during the third quarter. CWM LLC now owns 1,046 shares of the company's stock valued at $141,000 after purchasing an additional 169 shares during the period. 29.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Macquarie raised shares of PDD from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Nomura Securities upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Jefferies Financial Group lowered their price target on PDD from $193.00 to $151.00 and set a "buy" rating for the company in a report on Monday, August 26th. Benchmark cut their price objective on PDD from $230.00 to $185.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Finally, Barclays lowered their target price on PDD from $224.00 to $158.00 and set an "overweight" rating for the company in a research note on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, PDD presently has a consensus rating of "Buy" and a consensus price target of $182.40.

PDD Stock Down 3.0 %

Shares of PDD traded down $3.77 during mid-day trading on Thursday, hitting $123.63. 10,184,200 shares of the company's stock were exchanged, compared to its average volume of 10,801,518. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick 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 has a market cap of $170.10 billion, a PE ratio of 16.37, a P/E/G ratio of 0.35 and a beta of 0.71. The company has a 50-day simple moving average of $121.58 and a 200 day simple moving average of $130.40.

PDD (NASDAQ:PDD - Get Free Report) last released its 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. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the firm earned $1.27 earnings per share. The firm's revenue for the quarter was up 85.7% compared to the same quarter last year. On average, research analysts forecast that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

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.