XTX Topco Ltd Has $1.08 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

XTX Topco Ltd lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 42.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,089 shares of the company’s stock after acquiring an additional 2,395 shares during the period. XTX Topco Ltd’s holdings in PDD were worth $1,075,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in PDD in the 1st quarter worth about $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD in the 2nd quarter valued at about $32,000. Richardson Financial Services Inc. lifted its position in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of PDD in the second quarter worth approximately $40,000. Finally, Mather Group LLC. boosted its holdings in shares of PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PDD. Sanford C. Bernstein dropped their price objective 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. Benchmark cut their price objective on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Barclays lowered their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Bank of America cut their price target on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their price target on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Two equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $177.78.

PDD Stock Down 0.1 %

Shares of PDD stock opened at $99.90 on Friday. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $119.97 and a two-hundred day moving average price of $128.45. The stock has a market capitalization of $137.45 billion, a P/E ratio of 13.23, a PEG ratio of 0.24 and a beta of 0.69.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. PDD’s revenue was up 85.7% compared to the same quarter last year. During the same period last year, the business posted $1.27 EPS. Equities analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current 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.