Penserra Capital Management LLC Has $21.29 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Penserra Capital Management LLC trimmed its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 18.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,950 shares of the company's stock after selling 36,472 shares during the quarter. Penserra Capital Management LLC's holdings in PDD were worth $21,292,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PDD. Advisors Asset Management Inc. lifted its position in PDD by 39.5% during the 1st quarter. Advisors Asset Management Inc. now owns 1,767 shares of the company's stock worth $205,000 after acquiring an additional 500 shares in the last quarter. Caxton Associates LP purchased a new stake in PDD during the 1st quarter worth $971,000. California State Teachers Retirement System lifted its holdings in PDD by 20.2% in the 1st quarter. California State Teachers Retirement System now owns 217,319 shares of the company's stock worth $25,263,000 after buying an additional 36,595 shares in the last quarter. iA Global Asset Management Inc. boosted its position in PDD by 6.5% in the 1st quarter. iA Global Asset Management Inc. now owns 73,060 shares of the company's stock valued at $8,493,000 after buying an additional 4,467 shares during the last quarter. Finally, Artal Group S.A. grew its stake in shares of PDD by 73.8% during the first quarter. Artal Group S.A. now owns 56,500 shares of the company's stock valued at $6,568,000 after acquiring an additional 24,000 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PDD. Citigroup downgraded PDD from a "buy" rating to a "neutral" rating and reduced their price target for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Bank of America decreased their price target on shares of PDD from $206.00 to $170.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a "strong-buy" rating in a research note on Tuesday, August 27th. Jefferies Financial Group dropped their target price on shares of PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research report on Thursday. Finally, 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 note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, PDD currently has an average rating of "Buy" and a consensus price target of $173.40.

PDD Price Performance

NASDAQ PDD traded down $4.02 on Friday, reaching $100.07. 21,499,668 shares of the stock traded hands, compared to its average volume of 9,480,922. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a market cap of $137.68 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 0.25 and a beta of 0.71. The firm's fifty day simple moving average is $123.24 and its 200 day simple moving average is $129.64. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $20.58. PDD had a return on equity of 49.53% and a net margin of 29.05%. 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. PDD's revenue was up 85.7% compared to the same quarter last year. As a group, research analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current fiscal 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.