48,417 Shares in PDD Holdings Inc. (NASDAQ:PDD) Bought by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the second quarter, HoldingsChannel.com reports. The firm bought 48,417 shares of the company’s stock, valued at approximately $6,437,000. PDD comprises about 0.7% of Headlands Technologies LLC’s investment portfolio, making the stock its 26th largest position.

Several other institutional investors have also recently bought and sold shares of PDD. Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the first quarter worth $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD in the second quarter worth approximately $32,000. Strategic Financial Concepts LLC acquired a new stake in PDD during the 2nd quarter valued at approximately $40,000. Mather Group LLC. lifted its position in shares of PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares during the period. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of PDD in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Sanford C. Bernstein cut their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Bank of America reduced their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Benchmark cut their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Macquarie downgraded shares of PDD from an “outperform” rating to a “neutral” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, PDD currently has an average rating of “Buy” and an average price target of $177.78.

PDD Stock Up 0.3 %

PDD stock traded up $0.32 during midday trading on Tuesday, hitting $92.78. 828,244 shares of the stock were exchanged, compared to its average volume of 9,639,187. The business’s 50-day moving average price is $127.22 and its 200-day moving average price is $130.25. The stock has a market capitalization of $127.65 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.22 and a beta of 0.69. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. 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 previous year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 85.7% on a year-over-year basis. On average, research analysts expect that PDD Holdings Inc. will post 11.21 EPS for the current fiscal 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.