Perpetual Ltd purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,562 shares of the company's stock, valued at approximately $885,000.
A number of other institutional investors also recently modified their holdings of PDD. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PDD during the 4th quarter valued at approximately $59,000. American International Group Inc. lifted its stake in PDD by 4.0% in the 4th quarter. American International Group Inc. now owns 53,219 shares of the company's stock worth $7,786,000 after purchasing an additional 2,026 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in PDD in the 4th quarter worth approximately $112,000. Wellington Management Group LLP lifted its stake in PDD by 55.9% in the 4th quarter. Wellington Management Group LLP now owns 386,619 shares of the company's stock worth $56,566,000 after purchasing an additional 138,662 shares in the last quarter. Finally, Wahed Invest LLC lifted its stake in PDD by 10.3% in the 4th quarter. Wahed Invest LLC now owns 5,398 shares of the company's stock worth $790,000 after purchasing an additional 505 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PDD opened at $144.76 on Friday. The company's fifty day moving average price is $121.53 and its 200-day moving average price is $129.91. The firm has a market capitalization of $199.17 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.35 and a beta of 0.71. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11.
PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $100.17 billion. During the same quarter last year, the firm earned $1.27 EPS. The firm's quarterly revenue was up 85.7% compared to the same quarter last year. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.
PDD has been the topic of several recent analyst reports. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Citigroup cut shares of PDD from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Bank of America lowered their target price 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. Barclays lowered their target price on shares of PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 27th. Finally, Sanford C. Bernstein lowered their target price on shares of PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $182.40.
Check Out Our Latest Stock Report on PDD
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.
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