GSA Capital Partners LLP Has $871,000 Stake in PDD Holdings Inc. (NASDAQ:PDD)

GSA Capital Partners LLP decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 74.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,462 shares of the company’s stock after selling 18,889 shares during the quarter. GSA Capital Partners LLP’s holdings in PDD were worth $871,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its position in PDD by 12.0% in the third quarter. Apollon Wealth Management LLC now owns 2,614 shares of the company’s stock worth $352,000 after acquiring an additional 281 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of PDD by 317.0% in the 3rd 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 last quarter. Venturi Wealth Management LLC bought a new stake in PDD in the third quarter worth $29,000. Baker Avenue Asset Management LP acquired a new position in PDD during the third quarter worth $614,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in PDD by 176.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,850 shares of the company’s stock valued at $243,000 after buying an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Macquarie raised 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 report on Monday, October 7th. Barclays dropped 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, August 27th. Daiwa America raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark dropped their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $182.40.

PDD Trading Up 1.5 %

Shares of PDD opened at $114.00 on Friday. The stock’s 50-day moving average price is $121.59 and its 200 day moving average price is $130.53. 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 firm has a market capitalization of $156.85 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating 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 business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period in the prior year, the company posted $1.27 earnings per share. PDD’s revenue was up 85.7% on a year-over-year basis. As a group, research analysts predict 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.