Peoples Bank KS Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Peoples Bank KS acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 500 shares of the company’s stock, valued at approximately $67,000.

Several other large investors have also modified their holdings of the stock. Los Angeles Capital Management LLC boosted its holdings in PDD by 149.0% in the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after acquiring an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. grew its holdings in shares of PDD by 37.5% during the 4th 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. Vanguard Group Inc. increased its position in PDD by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after purchasing an additional 62,312 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after buying an additional 89,853 shares during the period. Finally, Connectus Wealth LLC lifted its position in PDD by 9.4% during the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock valued at $1,003,000 after buying an additional 590 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Up 1.1 %

Shares of NASDAQ:PDD traded up $1.65 during midday trading on Friday, reaching $154.27. The company had a trading volume of 21,059,683 shares, compared to its average volume of 10,596,437. The company has a fifty day simple moving average of $119.59 and a two-hundred day simple moving average of $129.20. The firm has a market cap of $212.26 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.69. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year 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, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 EPS. Research analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PDD shares. Bank of America dropped their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Benchmark cut their price target on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Sanford C. Bernstein lowered their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their price target on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from 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.