Vanguard Personalized Indexing Management LLC Increases Position in PDD Holdings Inc. (NASDAQ:PDD)

Vanguard Personalized Indexing Management LLC grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,180 shares of the company’s stock after purchasing an additional 352 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in PDD were worth $1,613,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PDD. Mercer Global Advisors Inc. ADV increased its position in PDD by 56.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,219 shares of the company’s stock valued at $1,757,000 after buying an additional 4,750 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of PDD during the second quarter valued at $795,000. E Fund Management Co. Ltd. raised its position in shares of PDD by 1.3% in the 2nd quarter. E Fund Management Co. Ltd. now owns 4,619,649 shares of the company’s stock worth $614,182,000 after purchasing an additional 58,370 shares during the last quarter. Virtu Financial LLC boosted its stake in PDD by 252.4% in the 2nd quarter. Virtu Financial LLC now owns 58,335 shares of the company’s stock worth $7,756,000 after purchasing an additional 41,781 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in PDD during the 2nd quarter valued at about $176,332,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on PDD shares. Sanford C. Bernstein decreased their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Jefferies Financial Group decreased their price target on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and lowered their target price for the company from $194.00 to $120.00 in a research note 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’s stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Buy” and a consensus target price of $177.78.

PDD Price Performance

NASDAQ PDD opened at $99.90 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $137.45 billion, a P/E ratio of 13.23, a PEG ratio of 0.24 and a beta of 0.69. The company has a 50-day moving average price of $119.97 and a 200-day moving average price of $128.45. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

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

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.