GM Advisory Group LLC Purchases New Position in PDD Holdings Inc. (NASDAQ:PDD)

GM Advisory Group LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,040 shares of the company’s stock, valued at approximately $410,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. TB Alternative Assets Ltd. increased its position in PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after acquiring an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. increased its position in PDD by 13.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after acquiring an additional 27,567 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in PDD by 63.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after acquiring an additional 89,853 shares in the last quarter. BOCHK Asset Management Ltd increased its position in PDD by 3,391.7% in the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock valued at $5,649,000 after acquiring an additional 40,700 shares in the last quarter. Finally, M&G PLC increased its position in PDD by 14.2% in the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock valued at $33,401,000 after acquiring an additional 30,817 shares in the last quarter. 29.07% of the stock is owned by institutional investors.

PDD Stock Down 3.9 %

PDD stock opened at $100.07 on Friday. The company’s 50 day simple moving average is $123.24 and its 200 day simple moving average is $129.77. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market capitalization of $137.68 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.25 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 49.53%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter last year, the firm earned $1.27 EPS. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on PDD. Barclays lowered 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. Bank of America lowered their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Sanford C. Bernstein lowered their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $173.40.

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.