PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Dragoneer Investment Group LLC

Dragoneer Investment Group LLC grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 142.6% during the second quarter, Holdings Channel reports. The firm owned 2,620,838 shares of the company’s stock after acquiring an additional 1,540,346 shares during the quarter. PDD comprises 6.7% of Dragoneer Investment Group LLC’s portfolio, making the stock its 5th largest holding. Dragoneer Investment Group LLC’s holdings in PDD were worth $348,440,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Corient Private Wealth LLC lifted its stake in PDD by 19.9% in the fourth quarter. Corient Private Wealth LLC now owns 8,148 shares of the company’s stock valued at $1,192,000 after buying an additional 1,350 shares during the last quarter. US Bancorp DE lifted its position in PDD by 65.2% in the 4th quarter. US Bancorp DE now owns 7,578 shares of the company’s stock valued at $1,109,000 after purchasing an additional 2,991 shares during the last quarter. Congress Wealth Management LLC DE acquired a new position in PDD during the 4th quarter valued at about $610,000. Artisan Partners Limited Partnership grew its position in PDD by 144.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 48,941 shares of the company’s stock worth $7,161,000 after purchasing an additional 28,941 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of PDD by 422.7% in the fourth quarter. TD Asset Management Inc now owns 160,476 shares of the company’s stock valued at $23,479,000 after purchasing an additional 129,776 shares during the period. 29.07% of the stock is currently owned by institutional investors.

PDD Stock Up 0.1 %

PDD stock opened at $113.94 on Thursday. The firm has a market cap of $156.77 billion, a PE ratio of 15.09, a P/E/G ratio of 0.25 and a beta of 0.69. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month 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. The firm has a 50 day simple moving average of $118.82 and a 200 day simple moving average of $128.45.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company’s revenue was up 85.7% compared to the same quarter last year. During the same period last year, the company posted $1.27 EPS. Equities research analysts forecast 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 recent analyst reports. Bank of America cut their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Sanford C. Bernstein reduced their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their price target 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. Finally, Benchmark decreased their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.