B. Metzler seel. Sohn & Co. Holding AG Acquires New Stake in PDD Holdings Inc. (NASDAQ:PDD)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 41,961 shares of the company’s stock, valued at approximately $5,657,000.

Several other hedge funds have also added to or reduced their stakes in PDD. Venturi Wealth Management LLC purchased a new stake in PDD during the 3rd quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in PDD during the 2nd quarter valued at about $32,000. Richardson Financial Services Inc. grew its stake in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares during the period. Future Financial Wealth Managment LLC bought a new position in PDD during the third quarter valued at approximately $34,000. Finally, Mather Group LLC. boosted its holdings in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

PDD Stock Performance

PDD opened at $117.68 on Wednesday. The company has a 50 day simple moving average of $122.58 and a two-hundred day simple moving average of $130.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market cap of $161.91 billion, a P/E ratio of 12.68, a PEG ratio of 0.27 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.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. Equities analysts forecast that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays decreased their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Sanford C. Bernstein reduced their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Benchmark dropped their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Nomura Securities raised shares of 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 issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $182.40.

PDD 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.