PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 1,374.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,145,211 shares of the company’s stock after purchasing an additional 12,253,589 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PDD were worth $1,772,106,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PDD. Public Sector Pension Investment Board grew its holdings in PDD by 6.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 343,994 shares of the company’s stock valued at $46,374,000 after purchasing an additional 22,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PDD by 6.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 363,958 shares of the company’s stock worth $49,065,000 after buying an additional 21,348 shares in the last quarter. BNP Paribas purchased a new position in PDD in the 3rd quarter valued at about $475,000. Townsquare Capital LLC grew its stake in shares of PDD by 51.7% during the third quarter. Townsquare Capital LLC now owns 3,810 shares of the company’s stock valued at $514,000 after acquiring an additional 1,298 shares in the last quarter. Finally, FMR LLC increased its position in shares of PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Down 0.5 %

Shares of NASDAQ:PDD opened at $98.80 on Thursday. The company’s fifty day moving average is $123.34 and its two-hundred day moving average is $128.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The stock has a market capitalization of $135.94 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.26 and a beta of 0.71.

PDD (NASDAQ:PDD) last released its quarterly earnings data 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 29.05% and a return on equity of 46.08%. The firm had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. Equities analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Sanford C. Bernstein decreased 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 target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

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.