GSA Capital Partners LLP Lowers Holdings in PDD Holdings Inc. (NASDAQ:PDD)

GSA Capital Partners LLP lessened its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 74.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,462 shares of the company's stock after selling 18,889 shares during the period. GSA Capital Partners LLP's holdings in PDD were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in PDD during the 3rd quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD during the second quarter valued at approximately $32,000. Richardson Financial Services Inc. raised its stake 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 buying an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in PDD in the 3rd quarter worth about $34,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of PDD in the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 29.07% of the company's stock.

PDD Stock Performance

PDD stock traded up $1.67 during trading on Friday, reaching $114.00. The company had a trading volume of 8,874,029 shares, compared to its average volume of 8,364,797. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a market cap of $156.85 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71. The firm has a 50-day simple moving average of $121.59 and a 200-day simple moving average of $130.61.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same period in the previous year, the company earned $1.27 earnings per share. The business's quarterly revenue was up 85.7% compared to the same quarter last year. As a group, sell-side analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PDD shares. Sanford C. Bernstein dropped their price objective on PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group lowered their target price on PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. Nomura Securities upgraded shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Macquarie upgraded PDD from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Finally, Barclays cut their target price on shares of PDD from $224.00 to $158.00 and set an "overweight" rating for the company in a research note 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. Based on data from MarketBeat, the stock presently has an average 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.