MBB Public Markets I LLC Increases Holdings in PDD Holdings Inc. (NASDAQ:PDD)

MBB Public Markets I LLC boosted its position in PDD Holdings Inc. (NASDAQ:PDD) by 997.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,498 shares of the company’s stock after purchasing an additional 38,626 shares during the period. MBB Public Markets I LLC’s holdings in PDD were worth $5,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Future Financial Wealth Managment LLC purchased a new position in shares of PDD in the first quarter valued at $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD during the 2nd quarter valued at about $32,000. Richardson Financial Services Inc. raised its position in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of PDD in the second quarter valued at about $40,000. Finally, Mather Group LLC. grew its position in shares of PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Trading Up 4.6 %

Shares of PDD stock opened at $135.38 on Friday. The firm’s 50-day simple moving average is $118.41 and its 200-day simple moving average is $128.35. 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 market cap of $186.27 billion, a P/E ratio of 17.93, a PEG ratio of 0.25 and a beta of 0.69.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the firm posted $1.27 earnings per share. PDD’s revenue was up 85.7% on a year-over-year basis. As a group, equities analysts forecast that PDD Holdings Inc. will post 11.05 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Macquarie downgraded PDD from an “outperform” rating to a “neutral” rating in a research report on Monday, August 26th. Sanford C. Bernstein decreased their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $177.78.

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.