PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Donaldson Capital Management LLC

Donaldson Capital Management LLC lifted its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 29.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,708 shares of the company's stock after purchasing an additional 4,222 shares during the quarter. Donaldson Capital Management LLC's holdings in PDD were worth $2,522,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. increased its stake in PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock worth $32,000 after buying an additional 233 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in PDD during the 3rd quarter worth approximately $34,000. Mather Group LLC. boosted its position in PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company's stock valued at $51,000 after buying an additional 354 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in shares of PDD in the second quarter worth $60,000. Hedge funds and other institutional investors own 29.07% of the company's stock.

PDD Price Performance

Shares of NASDAQ:PDD traded up $1.76 on Monday, reaching $122.32. 5,092,802 shares of the company were exchanged, compared to its average volume of 10,640,268. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a 50-day moving average of $117.39 and a 200-day moving average of $131.09. The firm has a market cap of $168.30 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 0.29 and a beta of 0.71.

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, topping 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 company's revenue was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 EPS. Equities analysts forecast that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays cut their price objective on shares of PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a report on Tuesday, August 27th. Daiwa America raised shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Citigroup lowered PDD from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Nomura Securities raised PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Finally, 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. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $182.40.

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.