UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 12,253,589 Shares of PDD Holdings Inc. (NASDAQ:PDD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 1,374.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,145,211 shares of the company's stock after purchasing an additional 12,253,589 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.96% of PDD worth $1,772,106,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PDD. Prospera Private Wealth LLC bought a new stake in PDD in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD during the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD during the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. lifted its holdings 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 purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in PDD during the 3rd quarter worth approximately $34,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut PDD from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Barclays reduced their price target on PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group reduced their price target on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research report on Thursday, November 21st. Nomura Securities upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Finally, Dbs Bank downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, PDD currently has an average rating of "Moderate Buy" and a consensus target price of $173.40.

PDD Stock Performance

Shares of PDD stock traded down $0.51 during trading on Thursday, reaching $98.80. 9,322,439 shares of the company's stock traded hands, compared to its average volume of 10,699,423. The company has a market capitalization of $135.94 billion, a P/E ratio of 9.65, a PEG ratio of 0.26 and a beta of 0.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm's 50-day moving average is $123.34 and its 200 day moving average is $128.92. 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 posted its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The business had revenue of $97.06 billion for the quarter, compared to analysts' expectations of $100.17 billion. During the same period in the prior year, the company posted $1.27 EPS. The business's revenue for the quarter was up 85.7% compared to the same quarter last year. Equities research analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current year.

PDD 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.