Sanibel Captiva Trust Company Inc. Increases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Sanibel Captiva Trust Company Inc. boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 16.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,844 shares of the company’s stock after purchasing an additional 264 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in PDD were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PDD. Baillie Gifford & Co. raised its stake in shares of PDD by 1.0% during the second 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of PDD by 0.4% during the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after acquiring an additional 97,648 shares in the last quarter. Hhlr Advisors LTD. raised its stake in shares of PDD by 16.6% during the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after acquiring an additional 1,680,600 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of PDD by 16.2% during the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after acquiring an additional 826,525 shares in the last quarter. Finally, Tairen Capital Ltd raised its stake 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 worth $715,055,000 after acquiring an additional 1,788,076 shares in the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD opened at $144.76 on Friday. The stock has a 50-day moving average price of $121.53 and a 200-day moving average price of $129.91. 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 $199.17 billion, a PE ratio of 15.60, a P/E/G ratio of 0.35 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 posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 EPS. Sell-side analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PDD has been the topic of several recent analyst reports. Jefferies Financial Group cut 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 cut shares of PDD from a “buy” rating to a “neutral” rating and cut their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Benchmark cut their target price 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. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PDD presently has an average rating of “Buy” and a consensus 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.