PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Swedbank AB

Swedbank AB cut its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 432,515 shares of the company's stock after selling 18,600 shares during the period. Swedbank AB's holdings in PDD were worth $58,307,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in PDD during the 3rd quarter worth $27,000. Venturi Wealth Management LLC acquired a new stake in shares of PDD in the 3rd quarter valued at about $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD during the second quarter worth about $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 worth $32,000 after acquiring an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in PDD during the third quarter worth about $34,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday. Benchmark decreased their target price on shares of PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research report on Friday. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Daiwa America upgraded shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Finally, Sanford C. Bernstein decreased their target price on shares of PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, eight 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 currently has an average rating of "Buy" and an average target price of $173.40.

PDD Price Performance

Shares of PDD stock traded up $0.62 on Monday, hitting $100.69. The company had a trading volume of 11,208,193 shares, compared to its average volume of 10,719,565. The business has a 50-day simple moving average of $123.31 and a 200-day simple moving average of $129.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $138.54 billion, a PE ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analysts' expectations of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 46.08%. The business's revenue was up 85.7% on a year-over-year basis. During the same period last year, the firm posted $1.27 earnings per share. Research analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current fiscal 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.