Zurcher Kantonalbank Zurich Cantonalbank Grows Position in PDD Holdings Inc. (NASDAQ:PDD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 363,958 shares of the company’s stock after buying an additional 21,348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PDD were worth $49,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the third quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in shares of PDD in the 3rd quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. raised its stake in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of PDD during the third quarter worth $34,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

PDD has been the topic of several recent research reports. Jefferies Financial Group dropped their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Benchmark dropped their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Sanford C. Bernstein reduced their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Three equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Down 0.5 %

PDD opened at $98.80 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $135.94 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.28 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 business’s fifty day moving average is $123.31 and its two-hundred day moving average is $128.71.

PDD (NASDAQ:PDD) last issued 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 29.05% and a return on equity of 46.08%. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the prior year, the company earned $1.27 EPS. The firm’s revenue was up 85.7% on a year-over-year basis. Analysts anticipate that PDD Holdings Inc. will post 10.24 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.