KADENSA CAPITAL Ltd Makes New $11.40 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

KADENSA CAPITAL Ltd acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 150,209 shares of the company’s stock, valued at approximately $11,401,000. PDD comprises 2.3% of KADENSA CAPITAL Ltd’s investment portfolio, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in PDD by 70.1% during the 1st quarter. Fifth Third Bancorp now owns 410 shares of the company’s stock worth $31,000 after purchasing an additional 169 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of PDD in the 4th quarter valued at approximately $37,000. Altshuler Shaham Ltd bought a new stake in shares of PDD in the 4th quarter valued at approximately $43,000. Captrust Financial Advisors increased its holdings in shares of PDD by 108.5% in the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 331 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of PDD in the 1st quarter valued at approximately $116,000. 31.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PDD has been the subject of a number of research analyst reports. Barclays boosted their price target on PDD from $103.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, August 30th. Morgan Stanley boosted their price objective on PDD from $110.00 to $120.00 in a research report on Tuesday, August 29th. TheStreet upgraded PDD from a “c+” rating to a “b-” rating in a research report on Thursday, August 31st. 500.com restated a “maintains” rating on shares of PDD in a research report on Tuesday, May 30th. Finally, Citigroup boosted their price objective on PDD from $110.00 to $125.00 in a research report on Tuesday, August 29th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, PDD currently has a consensus rating of “Buy” and a consensus target price of $117.75.

PDD Stock Up 2.2 %

Shares of PDD stock opened at $97.45 on Monday. The stock’s fifty day moving average is $82.98 and its 200-day moving average is $76.94. The firm has a market capitalization of $128.59 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. The company has a quick ratio of 1.94, a current ratio of 1.91 and a debt-to-equity ratio of 0.01. PDD Holdings Inc. has a 12-month low of $38.80 and a 12-month high of $106.38.

PDD (NASDAQ:PDD) last announced its earnings results on Tuesday, August 29th. The company reported $10.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.30 by $3.17. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $43.39 billion. PDD had a return on equity of 33.87% and a net margin of 24.93%. PDD’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. Equities analysts anticipate that PDD Holdings Inc. will post 4.09 earnings per share for the current year.

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.