WIM INVESTMENT MANAGEMENT Ltd Buys New Stake in PDD Holdings Inc. (NASDAQ:PDD)

WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 272,968 shares of the company's stock, valued at approximately $36,799,000. PDD accounts for 15.5% of WIM INVESTMENT MANAGEMENT Ltd's holdings, making the stock its 3rd biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in PDD during the 3rd quarter worth about $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. raised its holdings in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after acquiring an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in PDD during the 3rd quarter worth approximately $34,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of PDD in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 29.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Sanford C. Bernstein dropped their price target on shares of PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 27th. Barclays dropped their price objective on PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a report on Tuesday, August 27th. Benchmark cut their target price 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. Macquarie raised shares of PDD from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Finally, Citigroup lowered PDD from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $182.40.

PDD Stock Up 1.5 %

NASDAQ PDD traded up $1.67 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 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 firm has a 50-day moving average of $121.59 and a 200-day moving average of $130.57. The firm has a market capitalization of $156.85 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm had revenue of $97.06 billion for the quarter, compared to analysts' expectations of $100.17 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. PDD's revenue for the quarter was up 85.7% compared to the same quarter last year. On average, equities research analysts anticipate 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.