Banque Cantonale Vaudoise Trims Position in PDD Holdings Inc. (NASDAQ:PDD)

Banque Cantonale Vaudoise decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 25,833 shares of the company’s stock after selling 1,118 shares during the period. Banque Cantonale Vaudoise’s holdings in PDD were worth $3,434,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in PDD by 1.0% during the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock worth $4,670,322,000 after purchasing an additional 348,130 shares during the last quarter. Vanguard Group Inc. increased its position in PDD by 0.4% during the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after purchasing an additional 97,648 shares during the last quarter. Hhlr Advisors LTD. increased its position in PDD by 16.6% during the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after purchasing an additional 1,680,600 shares during the last quarter. Norges Bank acquired a new stake in shares of PDD in the fourth quarter worth $1,075,172,000. Finally, Assenagon Asset Management S.A. increased its position in shares of PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after acquiring an additional 826,525 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Stock Up 2.9 %

PDD traded up $2.69 during trading hours on Friday, reaching $96.11. 32,972,152 shares of the stock traded hands, compared to its average volume of 9,604,729. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market cap of $132.24 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.26 and a beta of 0.63. The firm’s fifty day simple moving average is $132.27 and its two-hundred day simple moving average is $131.88.

PDD (NASDAQ:PDD) last posted 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 26.93% and a return on equity of 45.04%. 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 prior year, the firm posted $1.27 EPS. The firm’s revenue was up 85.7% compared to the same quarter last year. As a group, analysts forecast that PDD Holdings Inc. will post 11.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. UBS Group increased their price objective on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. 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 research report on Tuesday. Daiwa America raised shares of PDD to a “strong-buy” rating in a research report on Tuesday. Finally, Barclays dropped their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday. Two equities research 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 company’s stock. According to data from 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.