Swiss National Bank Increases Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Swiss National Bank grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,575,744 shares of the company’s stock after purchasing an additional 229,135 shares during the period. Swiss National Bank owned about 0.11% of PDD worth $212,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC bought a new position in shares of PDD during the third quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in PDD in the 2nd quarter worth $32,000. Richardson Financial Services Inc. grew its stake in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of PDD in the third quarter worth approximately $34,000. Finally, Strategic Financial Concepts LLC purchased a new stake in PDD in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PDD shares. Bank of America cut their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Benchmark decreased their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays decreased their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Finally, Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, PDD presently has a consensus rating of “Buy” and an average target price of $182.40.

PDD Stock Up 1.5 %

Shares of NASDAQ PDD opened at $114.00 on Monday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $121.59 and a 200 day moving average of $130.61. The stock has a market cap of $156.85 billion, a PE ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

PDD (NASDAQ:PDD) last posted 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 return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. The company’s revenue for the quarter was up 85.7% on a year-over-year basis. As a group, sell-side analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

About PDD

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.