Thoroughbred Financial Services LLC Invests $733,000 in PDD Holdings Inc. (NASDAQ:PDD)

Thoroughbred Financial Services LLC acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,519 shares of the company’s stock, valued at approximately $733,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC grew its holdings in PDD by 149.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after buying an additional 177,600 shares during the period. Hhlr Advisors LTD. grew its holdings in PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after purchasing an additional 2,760,100 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PDD by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after purchasing an additional 62,312 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after acquiring an additional 89,853 shares during the last quarter. Finally, Connectus Wealth LLC grew its position in PDD by 9.4% during the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock valued at $1,003,000 after acquiring an additional 590 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of PDD stock opened at $94.99 on Monday. The firm has a fifty day moving average of $123.94 and a two-hundred day moving average of $129.36. The firm has a market cap of $130.69 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.23 and a beta of 0.69. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. 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 (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period last year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. As a group, research analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PDD has been the topic of several research analyst reports. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Bank of America cut their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Macquarie downgraded shares of PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Finally, UBS Group lifted their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, PDD has a consensus rating of “Buy” and an average price target of $177.78.

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.