PDD Holdings Inc. (NASDAQ:PDD) Stake Trimmed by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its stake in PDD Holdings Inc. (NASDAQ:PDD) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,309 shares of the company’s stock after selling 6,586 shares during the quarter. Asset Management One Co. Ltd.’s holdings in PDD were worth $19,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PDD. Acadian Asset Management LLC grew its stake in PDD by 107.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after acquiring an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd lifted its holdings in shares of PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after buying an additional 1,788,076 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after buying an additional 1,680,600 shares during the last quarter. Dragoneer Investment Group LLC lifted its holdings in shares of PDD by 142.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock valued at $348,440,000 after buying an additional 1,540,346 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of PDD during the 2nd quarter valued at about $176,332,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Down 0.1 %

Shares of PDD stock opened at $122.15 on Wednesday. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The business has a 50-day moving average of $117.91 and a two-hundred day moving average of $131.15. The company has a market capitalization of $168.06 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11.

PDD (NASDAQ:PDD) last announced its quarterly earnings results 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 company 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 company’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. As a group, equities analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on PDD. Bank of America reduced 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. Jefferies Financial Group reduced their target price on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a report on Monday, August 26th. Barclays lowered their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Finally, Sanford C. Bernstein reduced their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. 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, the stock presently has an average 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.