Atomi Financial Group Inc. Has $862,000 Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Atomi Financial Group Inc. reduced its position in PDD Holdings Inc. (NASDAQ:PDD) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,391 shares of the company’s stock after selling 562 shares during the period. Atomi Financial Group Inc.’s holdings in PDD were worth $862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in PDD by 1.0% in the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock worth $4,670,322,000 after purchasing an additional 348,130 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PDD by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after acquiring an additional 97,648 shares in the last quarter. Hhlr Advisors LTD. increased its holdings in shares of 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 last quarter. Assenagon Asset Management S.A. raised its stake in shares of PDD by 16.2% in 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 in the last quarter. Finally, Tairen Capital Ltd lifted its holdings in PDD by 49.8% in the 2nd 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 owned by hedge funds and other institutional investors.

PDD Stock Down 2.3 %

NASDAQ PDD opened at $141.47 on Thursday. 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 stock has a market cap of $194.64 billion, a PE ratio of 18.74, a PEG ratio of 0.37 and a beta of 0.71. The firm has a 50-day simple moving average of $121.00 and a 200 day simple moving average of $129.74.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 48.14% and a net margin of 28.92%. The company’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter last year, the company earned $1.27 EPS. On average, research analysts forecast that PDD Holdings Inc. will post 11.05 EPS for the current year.

Wall Street Analyst Weigh In

PDD has been the topic of several analyst reports. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and increased their price target for the company from $126.00 to $224.00 in a report on Monday. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report 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 report on Monday, August 26th. Finally, Benchmark dropped their price objective on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. One investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $182.40.

PDD 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.