PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. boosted its position in PDD Holdings Inc. (NASDAQ:PDD) by 20.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 155,482 shares of the company’s stock after purchasing an additional 26,356 shares during the quarter. PDD comprises about 2.7% of Global X Japan Co. Ltd.’s holdings, making the stock its 13th largest position. Global X Japan Co. Ltd.’s holdings in PDD were worth $20,961,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in PDD in the 1st quarter valued at about $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD in the 2nd quarter valued at about $32,000. Richardson Financial Services Inc. increased its stake in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of PDD during the 2nd quarter valued at about $40,000. Finally, Mather Group LLC. increased its stake in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PDD shares. Barclays dropped their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America decreased their target price on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, PDD presently has an average rating of “Buy” and a consensus target price of $182.40.

PDD Trading Up 2.9 %

NASDAQ:PDD opened at $128.51 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The firm has a market capitalization of $176.81 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 0.30 and a beta of 0.71. The stock has a fifty day simple moving average of $120.65 and a 200 day simple moving average of $130.73.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 EPS. Sell-side analysts forecast that PDD Holdings Inc. will post 11.05 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.