Cwm LLC Buys 169 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Cwm LLC boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,046 shares of the company’s stock after buying an additional 169 shares during the quarter. Cwm LLC’s holdings in PDD were worth $141,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new stake in shares of PDD in the 3rd quarter valued at $34,000. Insight Wealth Strategies LLC lifted its holdings in PDD by 57.2% during the third quarter. Insight Wealth Strategies LLC now owns 41,974 shares of the company’s stock worth $5,659,000 after acquiring an additional 15,273 shares during the period. Peoples Bank KS bought a new stake in PDD in the third quarter worth about $67,000. Sanctuary Advisors LLC purchased a new position in shares of PDD during the 2nd quarter valued at $1,211,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in PDD in the 2nd quarter worth approximately $15,329,000. Institutional investors own 29.07% of the company’s stock.

PDD Stock Performance

NASDAQ:PDD opened at $121.38 on Friday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. 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 firm has a market capitalization of $167.00 billion, a PE ratio of 16.08, a P/E/G ratio of 0.31 and a beta of 0.71. The stock has a 50-day simple moving average of $120.26 and a two-hundred day simple moving average of $130.67.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during 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 firm’s revenue was up 85.7% on a year-over-year basis. During the same quarter last year, the business posted $1.27 earnings per share. Analysts forecast that PDD Holdings Inc. will post 11.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PDD. Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays reduced their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Jefferies Financial Group dropped their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Bank of America decreased 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. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $182.40.

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.