PDD Holdings Inc. (NASDAQ:PDD) Holdings Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 63.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,605 shares of the company’s stock after purchasing an additional 259,937 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PDD were worth $90,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Anthracite Investment Company Inc. purchased a new stake in shares of PDD in the third quarter worth approximately $4,044,000. Advisors Asset Management Inc. increased its stake in PDD by 39.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock valued at $559,000 after buying an additional 1,184 shares during the period. Prospera Private Wealth LLC purchased a new stake in PDD in the 3rd quarter worth approximately $27,000. Avior Wealth Management LLC boosted its stake in shares of PDD by 50.9% during the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after buying an additional 169 shares during the period. Finally, West Family Investments Inc. grew its holdings in shares of PDD by 7.1% during the 3rd quarter. West Family Investments Inc. now owns 3,144 shares of the company’s stock valued at $424,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Sanford C. Bernstein cut their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Barclays reduced their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Citigroup downgraded 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 report on Tuesday, August 27th. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $105.00 in a research note on Friday. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research note 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $173.40.

PDD Stock Performance

Shares of PDD opened at $100.07 on Friday. The company has a market capitalization of $137.68 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.25 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company’s fifty day moving average price is $123.24 and its 200 day moving average price is $129.71.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 49.53% and a net margin of 29.05%. The firm’s revenue was up 85.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 EPS. As a group, analysts expect that PDD Holdings Inc. will post 11.19 earnings per share 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.