PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Increased by First Beijing Investment Ltd

First Beijing Investment Ltd raised its position in PDD Holdings Inc. (NASDAQ:PDD) by 27.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,554,719 shares of the company’s stock after purchasing an additional 770,539 shares during the period. PDD comprises about 35.2% of First Beijing Investment Ltd’s investment portfolio, making the stock its largest position. First Beijing Investment Ltd’s holdings in PDD were worth $479,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PDD. Baillie Gifford & Co. boosted its position in shares of PDD by 1.0% in the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock worth $4,670,322,000 after acquiring an additional 348,130 shares during the last quarter. Vanguard Group Inc. raised its stake in PDD by 0.4% during the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after purchasing an additional 97,648 shares during the period. Hhlr Advisors LTD. boosted its holdings in shares of PDD by 16.6% in the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after purchasing an additional 1,680,600 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of PDD by 16.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after buying an additional 826,525 shares during the last quarter. Finally, Tairen Capital Ltd raised its position in shares of PDD by 49.8% in the 2nd 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. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of PDD stock traded down $1.07 during midday trading on Wednesday, reaching $121.08. 5,836,800 shares of the company were exchanged, compared to its average volume of 10,595,483. The company’s 50 day moving average price is $117.91 and its two-hundred day moving average price is $131.15. The company has a market cap of $166.59 billion, a P/E ratio of 13.16, a PEG ratio of 0.29 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 debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. PDD’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 earnings per share. On average, sell-side analysts expect that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of research reports. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Jefferies Financial Group dropped their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $182.40.

About PDD

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.