PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by WT Asset Management Ltd

WT Asset Management Ltd lessened its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 7.7% in the second quarter, HoldingsChannel.com reports. The firm owned 933,702 shares of the company’s stock after selling 77,524 shares during the period. PDD accounts for approximately 12.1% of WT Asset Management Ltd’s investment portfolio, making the stock its 2nd biggest holding. WT Asset Management Ltd’s holdings in PDD were worth $124,136,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PDD. Baillie Gifford & Co. grew its stake in PDD by 1.0% during the 2nd quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after acquiring an additional 348,130 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PDD by 0.4% during the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after acquiring an additional 97,648 shares during the period. Hhlr Advisors LTD. increased its holdings in PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after purchasing an additional 1,680,600 shares in the last quarter. Norges Bank bought a new position in shares of PDD in the fourth quarter worth about $1,075,172,000. Finally, Assenagon Asset Management S.A. boosted its holdings in PDD by 16.2% in the second 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. 29.07% of the stock is owned by institutional investors.

PDD Trading Down 5.0 %

Shares of NASDAQ PDD traded down $7.32 during midday trading on Friday, hitting $139.87. The company’s stock had a trading volume of 17,101,622 shares, compared to its average volume of 8,325,182. PDD Holdings Inc. has a 12-month low of $77.53 and a 12-month high of $164.69. The firm has a market cap of $192.44 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 0.26 and a beta of 0.63. The business’s 50 day moving average is $137.27 and its two-hundred day moving average is $133.08. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $1.44 by $1.19. The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. As a group, equities research analysts expect that PDD Holdings Inc. will post 11.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PDD shares. Benchmark increased their price target on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. Bank of America lifted their price objective on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. UBS Group upped their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, Barclays raised their target price on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $188.33.

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.