PDD Holdings Inc. (NASDAQ:PDD) Holdings Cut by Krane Funds Advisors LLC

Krane Funds Advisors LLC decreased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,308,100 shares of the company’s stock after selling 187,956 shares during the period. PDD comprises about 16.0% of Krane Funds Advisors LLC’s investment portfolio, making the stock its biggest holding. Krane Funds Advisors LLC’s holdings in PDD were worth $445,965,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vontobel Holding Ltd. grew its position in PDD by 13.3% in the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after buying an additional 27,567 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in PDD by 63.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after acquiring an additional 89,853 shares during the period. TB Alternative Assets Ltd. lifted its holdings in shares of PDD by 33.7% during the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after buying an additional 43,648 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in PDD by 16.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock valued at $786,237,000 after purchasing an additional 826,525 shares during the period. Finally, Sei Investments Co. grew its position in PDD by 130.6% during the second quarter. Sei Investments Co. now owns 498,237 shares of the company’s stock worth $66,240,000 after buying an additional 282,199 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Trading Up 0.2 %

NASDAQ:PDD opened at $124.86 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $171.79 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.33 and a beta of 0.71. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The firm’s 50 day moving average is $120.96 and its 200 day moving average is $130.65.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PDD shares. Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark cut their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Bank of America decreased their price objective on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. One research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $182.40.

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.