Swedbank AB Lowers Stake in PDD Holdings Inc. (NASDAQ:PDD)

Swedbank AB lowered its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 432,515 shares of the company’s stock after selling 18,600 shares during the period. Swedbank AB’s holdings in PDD were worth $58,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new stake in PDD during the first quarter worth $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. lifted its holdings in PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares during the period. Strategic Financial Concepts LLC purchased a new stake in PDD during the second quarter worth $40,000. Finally, Mather Group LLC. lifted its holdings in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Analysts Set New Price Targets

PDD has been the subject of several analyst reports. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Jefferies Financial Group decreased their price objective on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a report on Monday, August 26th. Benchmark decreased their price objective on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Citigroup lowered PDD from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, PDD has an average rating of “Buy” and an average target price of $182.40.

PDD Price Performance

NASDAQ PDD opened at $128.21 on Wednesday. The stock’s fifty day moving average price is $121.99 and its 200 day moving average price is $130.47. The company has a market cap of $176.40 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.35 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. During the same period last year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 85.7% on a year-over-year basis. As a group, equities 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.