SCEP Management Ltd grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 471.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,000,000 shares of the company’s stock after acquiring an additional 825,000 shares during the quarter. PDD comprises 13.1% of SCEP Management Ltd’s portfolio, making the stock its 3rd biggest position. SCEP Management Ltd owned about 0.08% of PDD worth $69,140,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 331 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of PDD in the fourth quarter valued at about $43,000. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of PDD in the first quarter valued at about $53,000. Wahed Invest LLC acquired a new stake in shares of PDD in the first quarter valued at about $70,000. Finally, Advisor Group Holdings Inc. grew its stake in shares of PDD by 100.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock valued at $152,000 after buying an additional 1,872 shares in the last quarter. 31.08% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on PDD. Sanford C. Bernstein increased their target price on PDD from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 30th. Bank of America raised their price objective on PDD from $97.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, August 29th. TheStreet upgraded PDD from a “c+” rating to a “b-” rating in a research note on Thursday, August 31st. Morgan Stanley raised their price objective on PDD from $110.00 to $120.00 in a research note on Tuesday, August 29th. Finally, HSBC raised their price objective on PDD from $107.00 to $126.00 in a research note on Wednesday, August 30th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $122.25.
PDD Stock Performance
NASDAQ:PDD traded down $2.46 during trading hours on Tuesday, reaching $116.32. 1,742,605 shares of the stock were exchanged, compared to its average volume of 9,037,187. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $103.89 and a 200-day simple moving average of $86.44. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $120.26. The stock has a market capitalization of $153.49 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.12 and a beta of 0.64.
PDD (NASDAQ:PDD – Get Free Report) last released its earnings results on Tuesday, August 29th. The company reported $10.47 EPS for the quarter, topping analysts’ consensus estimates of $7.30 by $3.17. PDD had a return on equity of 33.87% and a net margin of 24.93%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $43.39 billion. During the same quarter last year, the business posted $0.93 EPS. PDD’s quarterly revenue was up 66.3% compared to the same quarter last year. As a group, sell-side analysts forecast that PDD Holdings Inc. will post 3.92 earnings per share for the current fiscal year.
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.
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