Inspire Investing LLC Buys Shares of 5,435 PDD Holdings Inc. (NASDAQ:PDD)

Inspire Investing LLC bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,435 shares of the company’s stock, valued at approximately $723,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Los Angeles Capital Management LLC increased its holdings in shares of PDD by 149.0% in the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after purchasing an additional 177,600 shares during the period. Hhlr Advisors LTD. increased its holdings in shares of PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares during the period. Vanguard Group Inc. increased its holdings in shares of PDD by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after purchasing an additional 62,312 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares during the period. Finally, Connectus Wealth LLC increased its holdings in shares of PDD by 9.4% in the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after purchasing an additional 590 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Stock Performance

NASDAQ PDD opened at $99.90 on Friday. The company has a 50-day simple moving average of $119.97 and a two-hundred day simple moving average of $128.40. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The firm has a market cap of $137.45 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.24 and a beta of 0.69.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The company had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. PDD’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 earnings per share. On average, equities analysts forecast that PDD Holdings Inc. will post 11.05 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PDD. Bank of America cut their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Barclays cut 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. Macquarie lowered shares of PDD from an “outperform” rating to a “neutral” rating in a research report on Monday, August 26th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $177.78.

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.