HighVista Strategies LLC Has $343,000 Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

HighVista Strategies LLC lessened its position in PDD Holdings Inc. (NASDAQ:PDD) by 64.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,578 shares of the company’s stock after selling 4,678 shares during the quarter. HighVista Strategies LLC’s holdings in PDD were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 1st quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new position in PDD in the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. lifted its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of PDD in the second quarter valued at approximately $40,000. Finally, Mather Group LLC. increased its stake in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Stock Down 0.1 %

Shares of PDD opened at $99.90 on Monday. The business’s fifty day moving average price is $119.97 and its two-hundred day moving average price is $128.53. The firm 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 Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11.

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

Analyst Ratings Changes

A number of research firms have weighed in on PDD. Macquarie downgraded PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and decreased their price target for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays cut their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their target price on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. 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.