PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,570 shares of the company’s stock after acquiring an additional 1,254 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in PDD were worth $6,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. abrdn plc increased its stake in shares of PDD by 41.9% during the third quarter. abrdn plc now owns 1,240,220 shares of the company’s stock worth $165,483,000 after buying an additional 365,948 shares during the period. Leuthold Group LLC grew its holdings in PDD by 50.9% during the 3rd quarter. Leuthold Group LLC now owns 3,628 shares of the company’s stock worth $489,000 after acquiring an additional 1,224 shares in the last quarter. Ballentine Partners LLC increased its position in shares of PDD by 11.9% in the 3rd quarter. Ballentine Partners LLC now owns 3,022 shares of the company’s stock valued at $407,000 after purchasing an additional 321 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of PDD by 6.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 53,400 shares of the company’s stock valued at $7,199,000 after purchasing an additional 3,000 shares in the last quarter. Finally, BOCHK Asset Management Ltd lifted its position in shares of PDD by 3,391.7% during the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after purchasing an additional 40,700 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $125.79 on Tuesday. The stock has a market capitalization of $173.07 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.30 and a beta of 0.71. The firm’s fifty day simple moving average is $118.74 and its 200-day simple moving average is $130.81. 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 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD) last announced its 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 net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The business’s revenue was up 85.7% compared to the same quarter last year. As a group, equities analysts forecast that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on PDD shares. Jefferies Financial Group dropped their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Sanford C. Bernstein cut their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America cut their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and lowered their target price for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $182.40.

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.