PDD Holdings Inc. (NASDAQ:PDD) Stock Holdings Cut by STF Management LP

STF Management LP cut its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,634 shares of the company’s stock after selling 508 shares during the quarter. STF Management LP’s holdings in PDD were worth $1,414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in PDD in the second quarter worth about $32,000. Future Financial Wealth Managment LLC bought a new stake in shares of PDD in the 1st quarter worth approximately $29,000. Mather Group LLC. lifted its stake in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in PDD during the fourth quarter worth approximately $59,000. Finally, EverSource Wealth Advisors LLC grew its position in PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PDD. Barclays decreased their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Macquarie cut PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Benchmark dropped their target price 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. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two 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 MarketBeat.com, PDD currently has a consensus rating of “Buy” and an average target price of $177.78.

PDD Stock Performance

Shares of PDD opened at $94.99 on Monday. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. 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 company has a market capitalization of $130.69 billion, a PE ratio of 12.58, a PEG ratio of 0.23 and a beta of 0.69. The company’s 50 day moving average price is $123.94 and its 200 day moving average price is $129.36.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business 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 posted $1.27 EPS. PDD’s revenue was up 85.7% on a year-over-year basis. Research analysts expect that PDD Holdings Inc. will post 11.05 EPS for the current fiscal 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.