Hsbc Holdings PLC Has $522.06 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Hsbc Holdings PLC lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,926,773 shares of the company’s stock after acquiring an additional 228,505 shares during the quarter. Hsbc Holdings PLC owned approximately 0.29% of PDD worth $522,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PDD. Beck Bode LLC acquired a new position in PDD in the 2nd quarter worth about $16,113,000. Vanguard Personalized Indexing Management LLC lifted its stake in PDD by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,180 shares of the company’s stock valued at $1,613,000 after acquiring an additional 352 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of PDD by 56.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,219 shares of the company’s stock valued at $1,757,000 after purchasing an additional 4,750 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in PDD in the 2nd quarter worth approximately $795,000. Finally, E Fund Management Co. Ltd. increased its stake in shares of PDD by 1.3% in the second quarter. E Fund Management Co. Ltd. now owns 4,619,649 shares of the company’s stock worth $614,182,000 after purchasing an additional 58,370 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PDD. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Bank of America dropped their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Finally, Citigroup cut PDD from a “buy” rating to a “neutral” rating and cut their price objective for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $177.78.

PDD Trading Up 1.2 %

PDD opened at $98.38 on Wednesday. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market cap of $135.36 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. 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 firm’s fifty day moving average is $122.40 and its two-hundred day moving average is $128.97.

PDD (NASDAQ:PDD) last issued 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. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same period in the previous year, the company posted $1.27 earnings per share. The company’s quarterly revenue was up 85.7% compared to the same quarter last year. Equities research analysts anticipate that PDD Holdings Inc. will post 11.05 EPS for the current 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.