PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Richardson Financial Services Inc.

Richardson Financial Services Inc. boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 3,883.3% in the second quarter, HoldingsChannel reports. The firm owned 239 shares of the company’s stock after buying an additional 233 shares during the period. Richardson Financial Services Inc.’s holdings in PDD were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PDD. Los Angeles Capital Management LLC raised its stake in shares of PDD by 149.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after buying an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. raised its position in PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after acquiring an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PDD by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after acquiring an additional 62,312 shares during the period. Jupiter Asset Management Ltd. boosted its position in PDD by 63.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares in the last quarter. Finally, Connectus Wealth LLC grew its stake in shares of PDD by 9.4% during the 4th quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after purchasing an additional 590 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Benchmark decreased their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Barclays cut their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Finally, The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $184.00 in a report on Friday, May 24th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $177.78.

PDD Price Performance

NASDAQ:PDD opened at $99.98 on Friday. The firm has a market cap of $137.56 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The stock has a 50 day moving average of $120.82 and a two-hundred day moving average of $128.55. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02.

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 during the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 earnings per share. On average, analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal 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.