Compagnie Lombard Odier SCmA Cuts Stake in PDD Holdings Inc. (NASDAQ:PDD)

Compagnie Lombard Odier SCmA cut its position in PDD Holdings Inc. (NASDAQ:PDD) by 97.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 400 shares of the company’s stock after selling 13,400 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in PDD were worth $54,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in PDD by 1.0% in the 2nd quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock worth $4,670,322,000 after acquiring an additional 348,130 shares during the last quarter. Vanguard Group Inc. lifted its stake in PDD by 0.4% during the 1st 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. lifted its stake 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 acquiring an additional 1,680,600 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of PDD by 16.2% during 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. Finally, Tairen Capital Ltd raised 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 valued at $715,055,000 after purchasing an additional 1,788,076 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

PDD Stock Up 2.2 %

PDD stock opened at $144.76 on Monday. The business’s 50-day moving average price is $121.88 and its 200-day moving average price is $130.24. The stock has a market cap of $199.17 billion, a P/E ratio of 19.17, a PEG ratio of 0.35 and a beta of 0.71. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

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

Wall Street Analyst Weigh In

PDD has been the topic of several research reports. Jefferies Financial Group dropped their target price on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Benchmark cut their price target on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, PDD currently has an average rating of “Buy” and an average price target of $182.40.

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.