Dynamic Technology Lab Private Ltd Acquires New Shares in PDD Holdings Inc. (NASDAQ:PDD)

Dynamic Technology Lab Private Ltd acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,028 shares of the company’s stock, valued at approximately $678,000.

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in shares of PDD by 107.8% during the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after buying an additional 1,904,155 shares during the last quarter. Tairen Capital Ltd raised its stake in PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after acquiring an additional 1,788,076 shares in the last quarter. Dragoneer Investment Group LLC boosted its position in PDD by 142.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock worth $348,440,000 after acquiring an additional 1,540,346 shares during the period. Renaissance Technologies LLC bought a new position in shares of PDD in the second quarter worth $176,332,000. Finally, Baillie Gifford & Co. increased its holdings in shares of PDD by 2.8% during the third quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock valued at $4,868,859,000 after purchasing an additional 988,042 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

PDD opened at $98.80 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $135.94 billion, a PE ratio of 9.65, a P/E/G ratio of 0.26 and a beta of 0.71. The business has a fifty day simple moving average of $123.31 and a 200-day simple moving average of $128.71. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share 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%. PDD’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter last year, the company posted $1.27 EPS. As a group, equities analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PDD shares. Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Jefferies Financial Group reduced their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Finally, Sanford C. Bernstein decreased their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Three 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 stock. According to data from MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

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.