Banco Santander S.A. Increases Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Banco Santander S.A. lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 113.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,262 shares of the company’s stock after acquiring an additional 5,462 shares during the quarter. Banco Santander S.A.’s holdings in PDD were worth $1,364,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Johnson Investment Counsel Inc. raised its position in shares of PDD by 2.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock worth $480,000 after purchasing an additional 78 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in PDD by 2.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after acquiring an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in PDD by 6.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after acquiring an additional 133 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of PDD by 6.8% during the 1st quarter. Ballentine Partners LLC now owns 2,581 shares of the company’s stock valued at $300,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Analysts Set New Price Targets

PDD has been the subject of several research reports. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday. Sanford C. Bernstein lowered their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday. UBS Group boosted their price objective on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Benchmark decreased their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $167.27.

PDD Stock Up 2.2 %

NASDAQ:PDD traded up $2.09 on Friday, reaching $95.51. The stock had a trading volume of 12,753,217 shares, compared to its average volume of 9,481,514. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $134.24 and a 200 day moving average of $132.39. The stock has a market cap of $131.41 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.26 and a beta of 0.63. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 EPS. On average, research analysts predict that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

PDD 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.