Prospera Financial Services Inc Has $653,000 Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Prospera Financial Services Inc boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 27.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,842 shares of the company’s stock after acquiring an additional 1,033 shares during the quarter. Prospera Financial Services Inc’s holdings in PDD were worth $653,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Swiss National Bank raised its holdings in shares of PDD by 17.0% in the third quarter. Swiss National Bank now owns 1,575,744 shares of the company’s stock valued at $212,426,000 after purchasing an additional 229,135 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in PDD in the 3rd quarter valued at $36,799,000. Freemont Capital Pte Ltd lifted its position in PDD by 23.8% during the 3rd quarter. Freemont Capital Pte Ltd now owns 26,000 shares of the company’s stock worth $3,505,000 after buying an additional 5,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of PDD by 84.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 22,435 shares of the company’s stock worth $3,024,000 after buying an additional 10,280 shares during the last quarter. Finally, Comgest Global Investors S.A.S. grew its holdings in shares of PDD by 132.9% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 32,259 shares of the company’s stock valued at $4,349,000 after acquiring an additional 18,408 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PDD. Benchmark reduced their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research report on Friday. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their target price for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Jefferies Financial Group dropped their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays lowered their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Finally, Citigroup cut PDD from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $173.40.

PDD Trading Down 3.9 %

Shares of NASDAQ:PDD opened at $100.07 on Friday. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The business has a 50 day moving average of $123.24 and a 200-day moving average of $129.71. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The stock has a market cap of $137.68 billion, a PE ratio of 9.77, a P/E/G ratio of 0.25 and a beta of 0.71.

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, beating the consensus estimate of $2.66 by $20.58. The business 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 49.53% and a net margin of 29.05%. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 EPS. As a group, equities research analysts forecast that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

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.