PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Cwm LLC

Cwm LLC raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 19.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,046 shares of the company’s stock after acquiring an additional 169 shares during the period. Cwm LLC’s holdings in PDD were worth $141,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in shares of PDD by 107.8% in the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after buying an additional 1,904,155 shares during the period. Tairen Capital Ltd grew its position in shares of PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after purchasing an additional 1,788,076 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of PDD by 16.6% during the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after buying an additional 1,680,600 shares during the last quarter. Dragoneer Investment Group LLC boosted its holdings in PDD by 142.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock valued at $348,440,000 after purchasing an additional 1,540,346 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in PDD in the 2nd quarter valued at approximately $176,332,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $121.38 on Friday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company’s 50-day moving average is $120.26 and its 200-day moving average is $130.67. 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 firm has a market capitalization of $167.00 billion, a PE ratio of 16.08, a PEG ratio of 0.31 and a beta of 0.71.

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

Analysts Set New Price Targets

PDD has been the subject of several analyst reports. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Barclays cut their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Bank of America reduced their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $194.00 to $120.00 in a report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $182.40.

PDD Company 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.