PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC reduced its position in PDD Holdings Inc. (NASDAQ:PDD) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683 shares of the company’s stock after selling 186 shares during the quarter. WCM Investment Management LLC’s holdings in PDD were worth $228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV boosted its stake in shares of PDD by 317.0% in the third quarter. Nations Financial Group Inc. IA ADV now owns 10,983 shares of the company’s stock valued at $1,481,000 after purchasing an additional 8,349 shares during the period. Venturi Wealth Management LLC acquired a new stake in PDD during the 3rd quarter worth approximately $29,000. Baker Avenue Asset Management LP purchased a new position in PDD in the 3rd quarter valued at approximately $614,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of PDD by 176.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,850 shares of the company’s stock worth $243,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of PDD by 172.2% during the third quarter. Fiera Capital Corp now owns 14,180 shares of the company’s stock worth $1,912,000 after acquiring an additional 8,971 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of PDD opened at $113.80 on Wednesday. The firm has a fifty day moving average price of $120.05 and a 200 day moving average price of $130.98. The stock has a market cap of $156.57 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. 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 results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the business posted $1.27 EPS. The firm’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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PDD shares. Daiwa America raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Jefferies Financial Group cut their target price on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Finally, Sanford C. Bernstein decreased their price objective 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. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, PDD currently has a consensus rating of “Buy” and an average 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.