PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda trimmed its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 38.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,000 shares of the company’s stock after selling 19,000 shares during the quarter. PDD comprises 0.6% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 28th biggest holding. SPX Gestao de Recursos Ltda’s holdings in PDD were worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of PDD during the second quarter valued at $32,000. Richardson Financial Services Inc. boosted its stake in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of PDD in the first quarter valued at approximately $29,000. Mather Group LLC. lifted its stake in shares of PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after buying an additional 354 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in PDD in the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and lowered their target price for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America lowered their price target on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Benchmark cut their price objective on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two 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 stock. According to MarketBeat, PDD has an average rating of “Buy” and an average price target of $177.78.

PDD Trading Down 0.4 %

Shares of PDD opened at $134.81 on Tuesday. 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 stock has a 50-day moving average price of $118.46 and a 200 day moving average price of $128.72. The company has a market capitalization of $185.48 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.28 and a beta of 0.69.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the company earned $1.27 earnings per share. The business’s quarterly revenue was up 85.7% compared to the same quarter last year. Sell-side analysts forecast that PDD Holdings Inc. will post 11.05 EPS for the current fiscal 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.