Scientech Research LLC Purchases New Position in PDD Holdings Inc. (NASDAQ:PDD)

Scientech Research LLC acquired a new position in PDD Holdings Inc. (NASDAQ:PDD) during the second quarter, HoldingsChannel reports. The fund acquired 9,051 shares of the company’s stock, valued at approximately $1,203,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PDD. Baillie Gifford & Co. boosted its holdings in PDD by 1.0% in the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after acquiring an additional 348,130 shares during the last quarter. Vanguard Group Inc. grew its position in shares of PDD by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after buying an additional 97,648 shares during the period. Hhlr Advisors LTD. raised its stake in shares of PDD by 16.6% during the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after buying an additional 1,680,600 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock valued at $786,237,000 after acquiring an additional 826,525 shares during the last quarter. Finally, Tairen Capital Ltd boosted its stake in PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after acquiring an additional 1,788,076 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. 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. Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Barclays lowered their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Two investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $177.78.

PDD Stock Performance

Shares of PDD stock opened at $135.38 on Friday. 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 market cap of $186.27 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The stock’s 50-day moving average is $118.41 and its 200-day moving average is $128.35. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

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

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.