Swiss National Bank boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,575,744 shares of the company's stock after acquiring an additional 229,135 shares during the period. Swiss National Bank owned 0.11% of PDD worth $212,426,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PDD. Venturi Wealth Management LLC purchased a new stake in shares of PDD in the 3rd quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC purchased 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 buying an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in PDD during the 3rd quarter worth approximately $34,000. Finally, Mather Group LLC. lifted its holdings in PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company's stock worth $51,000 after buying an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company's stock.
PDD Stock Performance
Shares of NASDAQ:PDD traded up $3.31 during midday trading on Monday, hitting $117.31. The stock had a trading volume of 9,287,979 shares, compared to its average volume of 10,565,137. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a 50 day moving average price of $121.59 and a two-hundred day moving average price of $130.61. The company has a market capitalization of $161.40 billion, a PE ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 0.71.
PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $100.17 billion. During the same quarter last year, the business earned $1.27 earnings per share. The business's revenue for the quarter was up 85.7% compared to the same quarter last year. As a group, equities analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Benchmark reduced their price objective on shares of PDD from $230.00 to $185.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Barclays cut their price target on shares of PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 27th. Citigroup lowered shares of PDD from a "buy" rating to a "neutral" rating and cut their price target for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein lowered their price objective on shares of PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their price objective on shares of PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PDD presently has a consensus rating of "Buy" and an average price target of $182.40.
Read Our Latest Research Report on PDD
About PDD
(
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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