Railway Pension Investments Ltd Acquires 8,300 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Railway Pension Investments Ltd grew its stake in PDD Holdings Inc. (NASDAQ:PDD) by 34.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,700 shares of the company’s stock after purchasing an additional 8,300 shares during the quarter. Railway Pension Investments Ltd’s holdings in PDD were worth $4,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Johnson Investment Counsel Inc. lifted its holdings in shares of PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after purchasing an additional 78 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in PDD by 2.6% in the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after acquiring an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in shares of PDD by 6.8% in the second quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after acquiring an additional 133 shares during the period. Finally, Ballentine Partners LLC lifted its position in PDD by 6.8% during the first quarter. Ballentine Partners LLC now owns 2,581 shares of the company’s stock valued at $300,000 after purchasing an additional 164 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Down 3.2 %

PDD traded down $3.21 during trading on Tuesday, reaching $96.79. The company had a trading volume of 19,486,133 shares, compared to its average volume of 8,970,637. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $136.31 and a 200-day simple moving average of $132.92. The stock has a market cap of $133.17 billion, a P/E ratio of 12.88, a PEG ratio of 0.26 and a beta of 0.63. PDD Holdings Inc. has a 52 week low of $79.00 and a 52 week high of $164.69.

PDD (NASDAQ:PDD) last issued its quarterly earnings results 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. The firm had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 earnings per share. On average, equities analysts anticipate that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on PDD. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the company from $194.00 to $120.00 in a research report on Tuesday. Barclays decreased their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday. Jefferies Financial Group decreased their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday. Finally, Benchmark cut their price target on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.33.

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.