Beck Bode LLC Invests $16.11 Million in PDD Holdings Inc. (NASDAQ:PDD)

Beck Bode LLC purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 121,194 shares of the company’s stock, valued at approximately $16,113,000. PDD accounts for approximately 3.2% of Beck Bode LLC’s investment portfolio, making the stock its 4th biggest position.

A number of other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in PDD during the 2nd quarter valued at $32,000. Future Financial Wealth Managment LLC purchased a new stake in PDD in the 1st quarter worth about $29,000. Mather Group LLC. lifted its stake in PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after acquiring an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in PDD during the 4th quarter worth about $59,000. Finally, Ridgewood Investments LLC purchased a new position in PDD during the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research analyst reports. Barclays reduced their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Benchmark cut their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and lowered their price target for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Finally, Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $177.78.

PDD Stock Up 4.6 %

PDD opened at $135.38 on Friday. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month 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 business has a 50 day moving average price of $118.41 and a 200 day moving average price of $128.35. The firm has a market cap of $186.27 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69.

PDD (NASDAQ:PDD) last posted its quarterly earnings data 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 business 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 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. Research analysts forecast that PDD Holdings Inc. will post 11.05 EPS 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.