Bridgewater Associates LP Has $168.76 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Bridgewater Associates LP lessened its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,251,860 shares of the company’s stock after selling 3,006 shares during the quarter. PDD makes up approximately 1.0% of Bridgewater Associates LP’s portfolio, making the stock its 17th largest holding. Bridgewater Associates LP owned 0.09% of PDD worth $168,763,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of PDD by 107.8% in the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after purchasing an additional 1,904,155 shares during the last quarter. Tairen Capital Ltd lifted its holdings in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares during the last quarter. FMR LLC lifted its holdings in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares during the period. Dragoneer Investment Group LLC increased its stake in PDD by 142.6% in the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock valued at $348,440,000 after acquiring an additional 1,540,346 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in PDD in the second quarter worth about $176,332,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 1.4 %

NASDAQ:PDD opened at $99.31 on Wednesday. The stock’s fifty day moving average price is $123.33 and its two-hundred day moving average price is $129.13. The company has a market cap of $136.64 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 0.26 and a beta of 0.71. 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 2.15 and a current ratio of 2.15.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 46.08% and a net margin of 29.05%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the previous year, the business posted $1.27 EPS. The company’s quarterly revenue was up 85.7% compared to the same quarter last year. On average, analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PDD shares. Sanford C. Bernstein dropped their target price on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Barclays cut their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and reduced their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Three 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’s stock. Based on data from MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and an average price target of $173.40.

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.