IFM Investors Pty Ltd Buys 947 Shares of PDD Holdings Inc. (NASDAQ:PDD)

IFM Investors Pty Ltd raised its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,898 shares of the company’s stock after purchasing an additional 947 shares during the period. IFM Investors Pty Ltd’s holdings in PDD were worth $4,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. TB Alternative Assets Ltd. increased its position in PDD by 33.7% in the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after purchasing an additional 43,648 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of PDD by 13.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after buying an additional 27,567 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of PDD by 63.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after buying an additional 89,853 shares during the last quarter. Global X Japan Co. Ltd. raised its position in shares of PDD by 20.4% during the 3rd quarter. Global X Japan Co. Ltd. now owns 155,482 shares of the company’s stock valued at $20,961,000 after buying an additional 26,356 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PDD by 16.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock valued at $786,237,000 after acquiring an additional 826,525 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PDD. Sanford C. Bernstein decreased their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Benchmark decreased their price target on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Buy” and an average price target of $182.40.

PDD Price Performance

PDD stock opened at $122.47 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market cap of $168.50 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.31 and a beta of 0.71. The firm has a 50-day moving average of $119.25 and a two-hundred day moving average of $130.64. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 earnings per share. On average, research analysts forecast that PDD Holdings Inc. will post 11.05 earnings per share for the current 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.