Intech Investment Management LLC Boosts Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Intech Investment Management LLC lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,397 shares of the company’s stock after acquiring an additional 1,475 shares during the quarter. Intech Investment Management LLC’s holdings in PDD were worth $2,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Future Financial Wealth Managment LLC purchased a new position in shares of PDD in the first quarter valued at about $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD in the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. boosted its stake in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the period. Strategic Financial Concepts LLC purchased a new stake in PDD during the 2nd quarter valued at approximately $40,000. Finally, Mather Group LLC. raised its position in shares of PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after buying an additional 354 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $102.30 on Tuesday. The stock has a market cap of $140.75 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a 50 day moving average price of $119.26 and a 200-day moving average price of $128.42. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. Equities analysts expect that PDD Holdings Inc. will post 11.05 EPS for the current year.

Analyst Upgrades and Downgrades

PDD has been the subject of several research analyst reports. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Jefferies Financial Group cut their price objective on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Macquarie lowered PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Finally, Daiwa America raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Two 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’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price 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.