Parallel Advisors LLC Has $324,000 Stake in PDD Holdings Inc. (NASDAQ:PDD)

Parallel Advisors LLC lifted its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,436 shares of the company’s stock after acquiring an additional 122 shares during the quarter. Parallel Advisors LLC’s holdings in PDD were worth $324,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC boosted its holdings in PDD by 149.0% in the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after acquiring an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. boosted its holdings in PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after buying an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. grew its position in shares of PDD by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after buying an additional 62,312 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of PDD by 63.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after acquiring an additional 89,853 shares during the last quarter. Finally, Connectus Wealth LLC raised its position in shares of PDD by 9.4% in the 4th quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock valued at $1,003,000 after acquiring an additional 590 shares during the period. 29.07% of the stock is currently owned by institutional investors.

PDD Trading Down 0.2 %

NASDAQ PDD opened at $98.23 on Thursday. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The stock’s 50 day moving average price is $121.61 and its two-hundred day moving average price is $128.75. The stock has a market capitalization of $135.15 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 0.24 and a beta of 0.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The firm’s revenue for the quarter was up 85.7% on a year-over-year basis. As a group, analysts anticipate 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 subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a report on Monday, August 26th. Bank of America dropped their price objective on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Barclays dropped their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Finally, Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target 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.