Intech Investment Management LLC Has $1.97 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Intech Investment Management LLC reduced its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,594 shares of the company’s stock after selling 1,803 shares during the quarter. Intech Investment Management LLC’s holdings in PDD were worth $1,967,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PDD. Prospera Private Wealth LLC acquired a new position in PDD during the third quarter valued at $27,000. Venturi Wealth Management LLC acquired a new position in shares of PDD in the 3rd quarter valued at about $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PDD in the second quarter worth approximately $32,000. Richardson Financial Services Inc. boosted its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in PDD during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $100.07 on Monday. The firm has a market cap of $137.68 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.25 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. 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 50-day moving average price of $123.24 and a 200 day moving average price of $129.64.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 49.53%. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. PDD’s revenue for the quarter was up 85.7% compared to the same quarter last year. Research analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday. Sanford C. Bernstein reduced their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and lowered their price target for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Finally, Daiwa America raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $173.40.

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.