PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 343,994 shares of the company’s stock after acquiring an additional 22,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in PDD were worth $46,374,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PDD by 6.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 363,958 shares of the company’s stock valued at $49,065,000 after buying an additional 21,348 shares during the period. BNP Paribas acquired a new position in PDD in the 3rd quarter valued at $475,000. Townsquare Capital LLC lifted its stake in shares of PDD by 51.7% during the 3rd quarter. Townsquare Capital LLC now owns 3,810 shares of the company’s stock worth $514,000 after purchasing an additional 1,298 shares during the period. FMR LLC boosted its holdings in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. Finally, DRW Securities LLC grew its position in shares of PDD by 22.7% in the third quarter. DRW Securities LLC now owns 13,397 shares of the company’s stock valued at $1,806,000 after purchasing an additional 2,480 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on PDD. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Benchmark dropped their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group decreased their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Bank of America dropped their price objective on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Macquarie raised PDD from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Down 0.5 %

Shares of NASDAQ PDD opened at $98.80 on Thursday. The stock has a fifty day moving average price of $123.34 and a 200 day moving average price of $128.92. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a market cap of $135.94 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.26 and a beta of 0.71.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. Research analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

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.