D1 Capital Partners L.P. Takes $62.22 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

D1 Capital Partners L.P. purchased a new position in PDD Holdings Inc. (NASDAQ:PDD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 468,000 shares of the company’s stock, valued at approximately $62,221,000. PDD accounts for about 1.0% of D1 Capital Partners L.P.’s portfolio, making the stock its 26th biggest position.

Several other large investors have also added to or reduced their stakes in the stock. Jump Financial LLC purchased a new stake in shares of PDD in the 4th quarter worth about $272,000. Avantax Advisory Services Inc. purchased a new stake in PDD in the fourth quarter worth about $249,000. Corient Private Wealth LLC boosted its position in PDD by 19.9% during the 4th quarter. Corient Private Wealth LLC now owns 8,148 shares of the company’s stock valued at $1,192,000 after acquiring an additional 1,350 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after acquiring an additional 101 shares during the period. Finally, US Bancorp DE lifted its stake in shares of PDD by 65.2% in the 4th quarter. US Bancorp DE now owns 7,578 shares of the company’s stock valued at $1,109,000 after purchasing an additional 2,991 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $99.90 on Monday. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a market capitalization of $137.45 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The firm has a 50 day moving average of $119.97 and a 200 day moving average of $128.53. 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 posted its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 EPS. As a group, equities research analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PDD has been the topic of several recent research reports. Sanford C. Bernstein reduced their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Benchmark lowered their price target on shares of PDD from $230.00 to $185.00 and set a “buy” 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 note on Monday, August 26th. Barclays decreased their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Finally, Daiwa America raised 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, PDD currently 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.