PDD Holdings Inc. (NASDAQ:PDD) Stake Raised by Tairen Capital Ltd

Tairen Capital Ltd boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 49.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,378,376 shares of the company’s stock after buying an additional 1,788,076 shares during the quarter. PDD makes up approximately 25.7% of Tairen Capital Ltd’s portfolio, making the stock its largest holding. Tairen Capital Ltd’s holdings in PDD were worth $715,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Hhlr Advisors LTD. lifted its stake in PDD by 37.5% in the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after buying an additional 2,760,100 shares in the last quarter. Acadian Asset Management LLC raised its holdings in PDD by 107.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after acquiring an additional 1,904,155 shares during the last quarter. Hsbc Holdings PLC raised its holdings in PDD by 109.7% in the 4th quarter. Hsbc Holdings PLC now owns 2,883,200 shares of the company’s stock valued at $421,842,000 after acquiring an additional 1,507,973 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in PDD in the 2nd quarter valued at about $176,332,000. Finally, Altimeter Capital Management LP raised its holdings in PDD by 191.3% in the 4th quarter. Altimeter Capital Management LP now owns 1,882,770 shares of the company’s stock valued at $275,468,000 after acquiring an additional 1,236,490 shares during the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Down 0.1 %

PDD stock opened at $99.90 on Monday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a 50 day moving average price of $119.97 and a 200 day moving average price of $128.53. The company has a market capitalization of $137.45 billion, a PE ratio of 13.23, a price-to-earnings-growth 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 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 the consensus estimate of $100.17 billion. During the same quarter last year, the firm earned $1.27 EPS. The firm’s revenue for the quarter was up 85.7% on a year-over-year basis. Research analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on PDD shares. Macquarie downgraded shares of PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and cut their price objective for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays cut their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Finally, Bank of America cut their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, PDD currently has an average rating of “Buy” and an average price target of $177.78.

About PDD

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.