Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in PDD Holdings Inc. (NASDAQ:PDD)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 47.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 572,321 shares of the company’s stock after selling 513,679 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PDD were worth $76,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PDD. Future Financial Wealth Managment LLC bought a new position in shares of PDD during the 1st quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD during the 2nd quarter valued at approximately $32,000. Richardson Financial Services Inc. grew its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of PDD during the 2nd quarter valued at approximately $40,000. Finally, Mather Group LLC. grew its position in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the period. 29.07% of the stock is owned by institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $152.71 on Thursday. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year 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 stock has a market capitalization of $210.11 billion, a PE ratio of 20.23, a P/E/G ratio of 0.33 and a beta of 0.69. The company’s 50 day simple moving average is $119.13 and its two-hundred day simple moving average is $129.04.

PDD (NASDAQ:PDD) last posted its quarterly earnings data 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. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter last year, the company posted $1.27 EPS. Analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Benchmark cut 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. Sanford C. Bernstein cut 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. Bank of America cut their price objective 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. Finally, Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price 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.