National Pension Service Buys 6,354 Shares of PDD Holdings Inc. (NASDAQ:PDD)

National Pension Service grew its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 3.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 180,367 shares of the company's stock after buying an additional 6,354 shares during the period. National Pension Service's holdings in PDD were worth $24,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. lifted its position in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after acquiring an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of PDD in the third quarter worth about $34,000. Strategic Financial Concepts LLC bought a new stake in PDD during the 2nd quarter valued at approximately $40,000. Finally, Mather Group LLC. lifted its holdings in PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company's stock worth $51,000 after purchasing an additional 354 shares in the last quarter. Institutional investors own 29.07% of the company's stock.

Analyst Ratings Changes

PDD has been the topic of a number of research reports. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Sanford C. Bernstein reduced their target price on PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a report on Tuesday, August 27th. Nomura Securities raised PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Citigroup downgraded PDD from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their target price on PDD from $193.00 to $151.00 and set a "buy" rating for the company in a research report on Monday, August 26th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $182.40.

PDD Trading Down 6.2 %

PDD stock traded down $7.75 during trading hours on Friday, hitting $118.12. The company had a trading volume of 13,023,457 shares, compared to its average volume of 10,624,857. 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 $162.52 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.29 and a beta of 0.71. The company has a 50-day moving average price of $118.54 and a two-hundred day moving average price of $131.08. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings data on Monday, August 26th. The company reported $23.24 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 for the quarter, compared to the consensus estimate of $100.17 billion. During the same period last year, the business posted $1.27 EPS. PDD's quarterly revenue was up 85.7% on a year-over-year basis. On average, sell-side analysts anticipate that PDD Holdings Inc. will post 11.19 earnings per share for the current 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.