Leuthold Group LLC Increases Stake in PDD Holdings Inc. (NASDAQ:PDD)

Leuthold Group LLC increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 50.9% in the third quarter, Holdings Channel.com reports. The firm owned 3,628 shares of the company’s stock after purchasing an additional 1,224 shares during the quarter. Leuthold Group LLC’s holdings in PDD were worth $489,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PDD. Baillie Gifford & Co. boosted its position 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 buying an additional 348,130 shares during the period. Vanguard Group Inc. boosted its holdings in PDD by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after acquiring an additional 97,648 shares during the period. Hhlr Advisors LTD. grew its position in PDD by 16.6% in 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 last quarter. Assenagon Asset Management S.A. increased its stake in PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after purchasing an additional 826,525 shares during the period. Finally, Tairen Capital Ltd lifted its position in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after purchasing an additional 1,788,076 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PDD shares. 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 note on Tuesday, August 27th. Jefferies Financial Group decreased their price target on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Nomura Securities raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Benchmark decreased their target price on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $182.40.

PDD Stock Performance

PDD stock opened at $125.79 on Tuesday. The firm has a 50-day simple moving average of $118.74 and a two-hundred day simple moving average of $130.81. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The firm has a market cap of $173.07 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.30 and a beta of 0.71.

PDD (NASDAQ:PDD) last announced its earnings results 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 company had revenue of $97.06 billion during 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%. PDD’s revenue was up 85.7% compared to the same quarter last year. During the same period last year, the firm earned $1.27 earnings per share. On average, equities analysts forecast that PDD Holdings Inc. will post 11.05 EPS for the current fiscal 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.