Swedbank AB Trims Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Swedbank AB lowered its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 432,515 shares of the company’s stock after selling 18,600 shares during the quarter. Swedbank AB’s holdings in PDD were worth $58,307,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TB Alternative Assets Ltd. lifted its stake in PDD by 33.7% in the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after acquiring an additional 43,648 shares during the period. Vontobel Holding Ltd. lifted its position in shares of PDD by 13.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after purchasing an additional 27,567 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after purchasing an additional 89,853 shares in the last quarter. BOCHK Asset Management Ltd increased its position in shares of PDD by 3,391.7% during the third quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock valued at $5,649,000 after buying an additional 40,700 shares during the period. Finally, M&G PLC raised its stake in PDD by 14.2% in the third quarter. M&G PLC now owns 247,417 shares of the company’s stock worth $33,401,000 after buying an additional 30,817 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PDD shares. Barclays reduced their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a report on Friday. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark decreased their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, PDD has an average rating of “Buy” and a consensus target price of $173.40.

PDD Stock Down 3.9 %

Shares of PDD stock opened at $100.07 on Monday. The company has a 50-day simple moving average of $123.24 and a two-hundred day simple moving average of $129.64. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-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. The stock has a market capitalization of $137.68 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71.

PDD (NASDAQ:PDD) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 46.08% 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 prior year, the firm posted $1.27 EPS. On average, analysts anticipate that PDD Holdings Inc. will post 11.19 EPS 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.