Mercer Global Advisors Inc. ADV Boosts Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Mercer Global Advisors Inc. ADV boosted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 56.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,219 shares of the company’s stock after purchasing an additional 4,750 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in PDD were worth $1,757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PDD. Checchi Capital Advisers LLC increased its position in shares of PDD by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after acquiring an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares in the last quarter. Ballentine Partners LLC increased its holdings in PDD by 4.6% in the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after buying an additional 120 shares in the last quarter. Parallel Advisors LLC raised its position in PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after buying an additional 122 shares during the last quarter. Finally, Legacy Capital Group California Inc. boosted its holdings in shares of PDD by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after acquiring an additional 133 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors.

PDD Stock Up 2.4 %

Shares of PDD stock opened at $102.30 on Tuesday. The company has a market capitalization of $140.75 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The company’s fifty day moving average price is $119.26 and its 200-day moving average price is $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 released its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share 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 firm had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. The business’s quarterly revenue was up 85.7% compared to the same quarter last year. Sell-side analysts expect that PDD Holdings Inc. will post 11.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays decreased their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Jefferies Financial Group reduced 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. Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and reduced their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.