PDD Holdings Inc. (NASDAQ:PDD) Stock Position Raised by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. raised its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 20.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,482 shares of the company’s stock after purchasing an additional 26,356 shares during the period. PDD accounts for about 2.7% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 13th largest position. Global X Japan Co. Ltd.’s holdings in PDD were worth $20,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD in the 2nd quarter valued at approximately $32,000. Richardson Financial Services Inc. raised its stake in shares of PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of PDD in the 1st quarter valued at approximately $29,000. Mather Group LLC. raised its stake in shares of PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of PDD in the 2nd quarter valued at approximately $60,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ:PDD opened at $128.51 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $176.81 billion, a PE ratio of 13.85, a PEG ratio of 0.30 and a beta of 0.71. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The business’s 50 day moving average is $120.65 and its 200-day moving average is $130.73.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Daiwa America raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark lowered their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Barclays lowered their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and lowered their target price for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. Finally, Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, PDD currently has a consensus rating of “Buy” and an average target price of $182.40.

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.