Sanders Capital LLC grew its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,948,316 shares of the company’s stock after buying an additional 11,599 shares during the quarter. Sanders Capital LLC owned 0.56% of PDD worth $619,492,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in PDD. Nykredit A S acquired a new position in PDD during the 2nd quarter valued at about $10,042,000. Public Employees Retirement System of Ohio purchased a new stake in shares of PDD in the second quarter worth approximately $9,491,000. Quantitative Investment Management LLC purchased a new stake in shares of PDD in the second quarter worth approximately $2,599,000. Wasatch Advisors LP bought a new position in shares of PDD in the second quarter valued at approximately $3,658,000. Finally, NEOS Investment Management LLC lifted its holdings in shares of PDD by 10.7% in the second quarter. NEOS Investment Management LLC now owns 404,232 shares of the company’s stock valued at $30,835,000 after purchasing an additional 38,930 shares in the last quarter. 39.83% of the stock is owned by institutional investors.
PDD Stock Performance
Shares of PDD stock traded down $0.92 during mid-day trading on Friday, hitting $83.03. 6,501,645 shares of the stock were exchanged, compared to its average volume of 5,289,521. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.12. The company has a 50-day simple moving average of $79.82 and a 200 day simple moving average of $90.54. The company has a market capitalization of $118.18 billion, a P/E ratio of 9.14, a P/E/G ratio of 0.65 and a beta of -0.03.
PDD (NASDAQ:PDD – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The firm had revenue of $16.54 billion for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. Analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Weiss Ratings raised PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, October 27th. Bank of America reissued a “neutral” rating on shares of PDD in a research report on Wednesday, August 26th. Benchmark dropped their price objective on PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Zacks Research upgraded PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PDD from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, September 10th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PDD has a consensus rating of “Hold” and an average target price of $110.31.
Check Out Our Latest Stock Analysis on PDD
PDD Company Profile
PDD Holdings Inc operates e-commerce platforms that connect consumers with merchants and other suppliers. Its businesses include Pinduoduo, a marketplace focused on China, and Temu, an international online marketplace.
Pinduoduo uses interactive shopping features, including group buying, and offers products across categories such as groceries, apparel, home goods and electronics. The platform has also emphasized agricultural products, connecting farmers with consumers and other buyers.
Temu serves customers in multiple markets outside China and offers a wide range of merchandise from suppliers and brands.
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