Peoples Bank KS Invests $67,000 in PDD Holdings Inc. (NASDAQ:PDD)

Peoples Bank KS purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 500 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors have also recently bought and sold shares of the business. Los Angeles Capital Management LLC grew its holdings in shares of PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after purchasing an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. grew its holdings in PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after acquiring an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. increased its position in PDD by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after acquiring an additional 62,312 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after acquiring an additional 89,853 shares during the last quarter. Finally, Connectus Wealth LLC lifted its position in shares of PDD by 9.4% during the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after purchasing an additional 590 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

Analyst Ratings Changes

PDD has been the subject of a number of research reports. Barclays lowered their price target 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. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Sanford C. Bernstein cut their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock 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. Finally, Benchmark decreased their target price on PDD from $230.00 to $185.00 and set a “buy” rating for the company 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, PDD currently has a consensus rating of “Buy” and an average price target of $177.78.

PDD Stock Up 1.1 %

NASDAQ PDD traded up $1.65 during trading hours on Friday, hitting $154.27. 21,059,683 shares of the company traded hands, compared to its average volume of 10,596,437. 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 business’s 50-day moving average is $119.59 and its 200-day moving average is $129.20. The stock has a market capitalization of $212.26 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 0.33 and a beta of 0.69. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The company 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%. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 EPS. Sell-side analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current 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.