PDD Holdings Inc. (NASDAQ:PDD) Position Reduced by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. trimmed its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 75.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,003 shares of the company’s stock after selling 3,003 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in PDD were worth $135,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in PDD during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. boosted its stake in 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 last quarter. Future Financial Wealth Managment LLC bought a new position in PDD during the 1st quarter valued at $29,000. Mather Group LLC. boosted its stake in 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 last quarter. Finally, Ridgewood Investments LLC bought a new position in PDD during the 2nd quarter valued at $60,000. 29.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Barclays reduced their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group reduced 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. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Sanford C. Bernstein reduced their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $182.40.

PDD Stock Down 4.8 %

PDD stock opened at $122.34 on Thursday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm’s 50-day simple moving average is $120.26 and its 200 day simple moving average is $130.67. The stock has a market cap of $168.32 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.30 and a beta of 0.71.

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 net margin of 28.92% and a return on equity of 48.14%. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter last year, the company earned $1.27 EPS. As a group, sell-side analysts predict that PDD Holdings Inc. will post 11.05 EPS for the current year.

About PDD

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.