Nations Financial Group Inc. IA ADV Raises Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Nations Financial Group Inc. IA ADV lifted its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 317.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,983 shares of the company's stock after buying an additional 8,349 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in PDD were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. grew its holdings in shares of PDD by 1.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,010 shares of the company's stock worth $1,629,000 after purchasing an additional 168 shares during the last quarter. QRG Capital Management Inc. lifted its position in PDD by 2.3% during the 1st quarter. QRG Capital Management Inc. now owns 14,735 shares of the company's stock worth $1,713,000 after buying an additional 331 shares in the last quarter. Bleakley Financial Group LLC lifted its position in PDD by 6.0% during the 1st quarter. Bleakley Financial Group LLC now owns 4,969 shares of the company's stock worth $578,000 after buying an additional 283 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in PDD by 88.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 499,855 shares of the company's stock worth $58,108,000 after buying an additional 234,087 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in PDD by 19.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 444,539 shares of the company's stock worth $51,678,000 after buying an additional 72,469 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock traded down $3.35 during trading hours on Tuesday, hitting $113.80. 9,329,913 shares of the company's stock traded hands, compared to its average volume of 10,621,599. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The stock has a market capitalization of $156.57 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.28 and a beta of 0.71. The company has a fifty day simple moving average of $120.05 and a 200-day simple moving average of $130.98. 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 (NASDAQ:PDD - Get Free Report) last issued its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm's revenue was up 85.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 EPS. Equities research analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PDD has been the topic of a number of research reports. Citigroup downgraded shares of PDD from a "buy" rating to a "neutral" rating and cut their target price for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and upped their target price for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Sanford C. Bernstein cut their target price on shares of PDD from $235.00 to $170.00 and set an "outperform" 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. Finally, Nomura Securities upgraded shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average 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.