Candriam S.C.A. Raises Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Candriam S.C.A. lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,320 shares of the company’s stock after buying an additional 18,920 shares during the period. Candriam S.C.A.’s holdings in PDD were worth $35,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Future Financial Wealth Managment LLC acquired a new stake in shares of PDD in the 1st quarter worth approximately $29,000. Mather Group LLC. grew its holdings in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PDD in the fourth quarter valued at $59,000. Ridgewood Investments LLC acquired a new position in shares of PDD during the 2nd quarter worth $60,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PDD. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Benchmark dropped their price objective on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. 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. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and reduced their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $177.78.

PDD Price Performance

PDD opened at $93.30 on Friday. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. 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 company has a market capitalization of $128.37 billion, a P/E ratio of 12.36, a PEG ratio of 0.23 and a beta of 0.69. The company has a 50-day moving average of $128.03 and a 200-day moving average of $130.53.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm’s revenue for the quarter was up 85.7% compared to the same quarter last year. Equities analysts expect that PDD Holdings Inc. will post 11.21 EPS for the current fiscal year.

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.