PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 6.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 53,400 shares of the company’s stock after acquiring an additional 3,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in PDD were worth $7,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PDD. Future Financial Wealth Managment LLC purchased a new stake in PDD during the first quarter worth about $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PDD during the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. grew its holdings 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 worth $32,000 after acquiring an additional 233 shares during the period. Strategic Financial Concepts LLC purchased a new position in PDD in the 2nd quarter valued at approximately $40,000. Finally, Mather Group LLC. increased its stake in 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 purchasing an additional 354 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Trading Down 0.8 %

Shares of PDD stock opened at $121.38 on Friday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The business’s fifty day moving average is $120.26 and its two-hundred day moving average is $130.67. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm has a market cap of $167.00 billion, a PE ratio of 16.08, a P/E/G ratio of 0.31 and a beta of 0.71.

PDD (NASDAQ:PDD) last released 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 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 the consensus estimate of $100.17 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The firm’s revenue for the quarter was up 85.7% compared to the same quarter last year. Analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group lowered their target price on 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 lowered their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein cut their target price 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. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Finally, Daiwa America raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. One 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 stock. Based on data from MarketBeat.com, PDD has a consensus rating of “Buy” and an average price target 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.