HighVista Strategies LLC Has $343,000 Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

HighVista Strategies LLC trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 64.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,578 shares of the company’s stock after selling 4,678 shares during the quarter. HighVista Strategies LLC’s holdings in PDD were worth $343,000 at the end of the most recent reporting period.

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

PDD Trading Down 0.1 %

NASDAQ PDD opened at $99.90 on Monday. The company has a market cap of $137.45 billion, a PE ratio of 13.23, a PEG ratio of 0.24 and a beta of 0.69. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a 50 day moving average of $119.97 and a 200-day moving average of $128.53. 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 announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 28.92% and a return on equity of 48.14%. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 earnings per share. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Bank of America cut their price target on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Jefferies Financial Group cut their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Macquarie downgraded shares of PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, PDD currently has a consensus rating of “Buy” and a consensus target price of $177.78.

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.