PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Trimmed by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 74.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,462 shares of the company’s stock after selling 18,889 shares during the quarter. GSA Capital Partners LLP’s holdings in PDD were worth $871,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Ballentine Partners LLC lifted its position in PDD by 4.6% in the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after purchasing an additional 120 shares during the period. Parallel Advisors LLC lifted its holdings in shares of PDD by 5.3% in the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock valued at $324,000 after buying an additional 122 shares during the period. Legacy Capital Group California Inc. boosted its stake in PDD by 6.8% during the second quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after buying an additional 133 shares in the last quarter. CWM LLC grew its holdings in PDD by 19.3% during the third quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $141,000 after acquiring an additional 169 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in PDD in the third quarter worth about $29,000. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Trading Up 1.5 %

Shares of NASDAQ PDD opened at $114.00 on Friday. The firm has a market capitalization of $156.85 billion, a PE ratio of 12.28, a PEG ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a one year low of $88.01 and a one year 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. The business has a 50-day moving average price of $121.59 and a two-hundred day moving average price of $130.53.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PDD shares. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Barclays reduced their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Sanford C. Bernstein decreased 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. Finally, Jefferies Financial Group cut their price objective on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, PDD has a consensus rating of “Buy” and an average 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.