Edgestream Partners L.P. Has $678,000 Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Edgestream Partners L.P. trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 18.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,099 shares of the company’s stock after selling 1,177 shares during the quarter. Edgestream Partners L.P.’s holdings in PDD were worth $678,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in shares of PDD by 1.0% in the second quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock worth $4,670,322,000 after acquiring an additional 348,130 shares during the period. Vanguard Group Inc. lifted its stake in shares of PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after acquiring an additional 97,648 shares during the period. Hhlr Advisors LTD. lifted its stake in shares of PDD by 16.6% in the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after acquiring an additional 1,680,600 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after acquiring an additional 826,525 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of PDD by 107.8% in the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after acquiring an additional 1,904,155 shares during the period. 29.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PDD has been the subject of a number of research analyst reports. Benchmark lowered their target price on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Sanford C. Bernstein lowered their target price on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $177.78.

PDD Trading Down 0.1 %

NASDAQ PDD opened at $99.90 on Friday. The company has a market cap of $137.45 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.24 and a beta of 0.69. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The business has a 50 day moving average price of $119.97 and a 200-day moving average price of $128.45. 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 (NASDAQ:PDD) last announced its 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. The company had revenue of $97.06 billion for 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 quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. As a group, equities analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

PDD Company 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.