General Equity Holdings LP Makes New $5.32 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

General Equity Holdings LP purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $5,318,000. PDD makes up 3.2% of General Equity Holdings LP’s investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PDD. Hhlr Advisors LTD. raised its stake 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 purchasing an additional 2,760,100 shares during the period. Acadian Asset Management LLC raised its position in shares of PDD by 107.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after buying an additional 1,904,155 shares during the period. Hsbc Holdings PLC raised its position in shares of PDD by 109.7% during the 4th quarter. Hsbc Holdings PLC now owns 2,883,200 shares of the company’s stock valued at $421,842,000 after buying an additional 1,507,973 shares during the period. Tairen Capital Ltd lifted its holdings in PDD by 188.2% in the fourth quarter. Tairen Capital Ltd now owns 2,263,437 shares of the company’s stock valued at $331,163,000 after acquiring an additional 1,478,149 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in PDD in the second quarter worth approximately $176,332,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PDD shares. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America lowered their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Barclays reduced their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group dropped their target price 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Buy” and an average price target of $177.78.

PDD Trading Down 0.1 %

PDD opened at $99.90 on Monday. The business has a fifty day moving average price of $119.97 and a 200 day moving average price of $128.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a market capitalization 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 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 return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the previous year, the company posted $1.27 earnings per share. The business’s revenue for the quarter was up 85.7% on a year-over-year basis. Sell-side analysts expect that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

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.