Candriam S.C.A. Acquires 18,920 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Candriam S.C.A. lifted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,320 shares of the company’s stock after buying an additional 18,920 shares during the period. Candriam S.C.A.’s holdings in PDD were worth $35,007,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp lifted its stake in PDD by 12.8% in the fourth quarter. Truist Financial Corp now owns 3,143 shares of the company’s stock worth $460,000 after purchasing an additional 357 shares during the last quarter. New York Life Investment Management LLC bought a new position in PDD in the 4th quarter valued at $259,000. Apollon Wealth Management LLC purchased a new stake in PDD in the fourth quarter worth $249,000. Principal Securities Inc. purchased a new stake in PDD in the fourth quarter worth $184,000. Finally, AGF Management Ltd. lifted its position in shares of PDD by 194.6% during the fourth quarter. AGF Management Ltd. now owns 13,910 shares of the company’s stock worth $2,035,000 after purchasing an additional 9,189 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PDD shares. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Benchmark decreased their price target on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Jefferies Financial Group dropped their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PDD has a consensus rating of “Buy” and an average price target of $177.78.

PDD Price Performance

PDD stock opened at $93.30 on Friday. The company’s 50 day simple moving average is $128.03 and its 200-day simple moving average is $130.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a market capitalization of $128.37 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.23 and a beta of 0.69.

PDD (NASDAQ:PDD) last announced 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. The company had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. PDD’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period last year, the business posted $1.27 EPS. As a group, equities research analysts expect that PDD Holdings Inc. will post 11.21 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.