PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 63.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,917 shares of the company’s stock after acquiring an additional 89,853 shares during the period. Jupiter Asset Management Ltd.’s holdings in PDD were worth $30,700,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PDD. Checchi Capital Advisers LLC lifted its stake in PDD by 2.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after buying an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares in the last quarter. Ballentine Partners LLC lifted its stake in PDD by 4.6% in the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after buying an additional 120 shares in the last quarter. Legacy Capital Group California Inc. lifted its stake in PDD by 6.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after buying an additional 133 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in PDD by 1.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,010 shares of the company’s stock valued at $1,629,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Trading Up 2.2 %

Shares of PDD opened at $97.33 on Friday. 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 $133.91 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 0.22 and a beta of 0.69. The stock’s fifty day simple moving average is $124.76 and its 200 day simple moving average is $129.54. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the prior year, the firm earned $1.27 EPS. The firm’s quarterly revenue was up 85.7% compared to the same quarter last year. On average, equities research analysts forecast that PDD Holdings Inc. will post 11.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Sanford C. Bernstein reduced their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Bank of America reduced their price target on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Barclays reduced their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Finally, Benchmark reduced their price target on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $177.78.

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.