National Pension Service Grows Stake in PDD Holdings Inc. (NASDAQ:PDD)

National Pension Service increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,367 shares of the company’s stock after purchasing an additional 6,354 shares during the quarter. National Pension Service’s holdings in PDD were worth $24,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. raised 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 worth $32,000 after buying an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD in the third quarter valued at approximately $34,000. Mather Group LLC. grew its holdings in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after acquiring an additional 354 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in PDD during the second quarter worth $60,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PDD shares. Bank of America reduced their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Benchmark decreased their price target on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Sanford C. Bernstein dropped their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PDD currently has an average rating of “Buy” and a consensus price target of $182.40.

PDD Price Performance

Shares of PDD opened at $125.87 on Friday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The stock’s fifty day moving average is $118.54 and its 200-day moving average is $131.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $173.18 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.29 and a beta of 0.71.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period last year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. Equities analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current year.

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.