IFM Investors Pty Ltd Increases Stake in PDD Holdings Inc. (NASDAQ:PDD)

IFM Investors Pty Ltd raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,898 shares of the company’s stock after purchasing an additional 947 shares during the quarter. IFM Investors Pty Ltd’s holdings in PDD were worth $4,839,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PDD. Baillie Gifford & Co. lifted its holdings in shares of PDD by 1.0% during the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after purchasing an additional 348,130 shares in the last quarter. Vanguard Group Inc. raised its position in PDD by 0.4% in 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 last quarter. Hhlr Advisors LTD. lifted its stake in PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after acquiring an additional 1,680,600 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of PDD by 16.2% during the 2nd 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 grew its stake in shares of PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after acquiring an additional 1,788,076 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Up 0.9 %

PDD stock opened at $122.47 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The firm has a market capitalization of $168.50 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 0.31 and a beta of 0.71. The firm has a 50 day moving average of $119.25 and a 200 day moving average of $130.64.

PDD (NASDAQ:PDD) last announced its quarterly earnings data 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 the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company’s revenue was up 85.7% on a year-over-year basis. During the same period last year, the firm earned $1.27 EPS. As a group, research analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective 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. Sanford C. Bernstein lowered their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Citigroup lowered 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. Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Bank of America cut their price target on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PDD presently has an average 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.