Advisors Asset Management Inc. Grows Stake in PDD Holdings Inc. (NASDAQ:PDD)

Advisors Asset Management Inc. grew its position in PDD Holdings Inc. (NASDAQ:PDD) by 39.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,148 shares of the company’s stock after purchasing an additional 1,184 shares during the quarter. Advisors Asset Management Inc.’s holdings in PDD were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC lifted its stake 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 worth $487,984,000 after buying an additional 1,904,155 shares during the period. Tairen Capital Ltd lifted its stake in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares during the period. Dragoneer Investment Group LLC lifted its stake in shares of PDD by 142.6% during the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock worth $348,440,000 after buying an additional 1,540,346 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of PDD during the second quarter worth $176,332,000. Finally, Baillie Gifford & Co. lifted its stake 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 worth $4,868,859,000 after buying an additional 988,042 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PDD shares. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Benchmark decreased their target price 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. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Trading Down 0.5 %

Shares of PDD stock opened at $98.80 on Thursday. The firm has a 50-day simple moving average of $123.34 and a two-hundred day simple moving average of $128.92. The company has a market cap of $135.94 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.26 and a beta of 0.71. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

PDD (NASDAQ:PDD) last issued its quarterly earnings data 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. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 46.08%. The company’s revenue was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share. As a group, equities analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal 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.