Asset Management One Co. Ltd. lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 142,309 shares of the company's stock after selling 6,586 shares during the quarter. Asset Management One Co. Ltd.'s holdings in PDD were worth $19,185,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. boosted its position in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after purchasing an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 3rd quarter worth approximately $34,000. Strategic Financial Concepts LLC bought a new stake in shares of PDD during the 2nd quarter worth approximately $40,000. Finally, Mather Group LLC. raised its position in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company's stock worth $51,000 after acquiring an additional 354 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company's stock.
Wall Street Analysts Forecast Growth
PDD has been the topic of a number of recent research reports. Macquarie raised shares of PDD from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Citigroup lowered PDD from a "buy" rating to a "neutral" rating and decreased their price target for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Jefferies Financial Group cut their price objective on PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Nomura Securities upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. Finally, Barclays reduced their target price on PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $182.40.
Get Our Latest Stock Analysis on PDD
PDD Stock Down 1.2 %
Shares of NASDAQ PDD traded down $1.45 during mid-day trading on Wednesday, reaching $120.70. 8,693,069 shares of the company's stock traded hands, compared to its average volume of 10,607,631. 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 1-year low of $88.01 and a 1-year high of $164.69. The stock has a market cap of $166.07 billion, a P/E ratio of 13.03, a PEG ratio of 0.29 and a beta of 0.71. The business has a 50-day simple moving average of $117.91 and a 200 day simple moving average of $131.15.
PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period in the prior year, the firm posted $1.27 EPS. PDD's quarterly revenue was up 85.7% compared to the same quarter last year. On average, analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.
PDD Company Profile
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Free Report)
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.
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