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

Virtu Financial LLC lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 252.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,335 shares of the company’s stock after acquiring an additional 41,781 shares during the quarter. PDD comprises about 0.5% of Virtu Financial LLC’s investment portfolio, making the stock its 20th biggest holding. Virtu Financial LLC’s holdings in PDD were worth $7,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in PDD by 1.0% in the 2nd quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock worth $4,670,322,000 after purchasing an additional 348,130 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after buying an additional 97,648 shares during the period. Hhlr Advisors LTD. increased its position in shares of PDD by 16.6% in the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after acquiring an additional 1,680,600 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of PDD by 16.2% during the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock valued at $786,237,000 after acquiring an additional 826,525 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of PDD by 107.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after acquiring an additional 1,904,155 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the topic of several research analyst reports. Bank of America lowered their price objective 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. Macquarie downgraded PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Sanford C. Bernstein lowered their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, UBS Group upped their price objective on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $177.78.

PDD Stock Up 2.3 %

PDD opened at $97.20 on Tuesday. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month 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. The business has a 50 day moving average price of $123.19 and a 200 day moving average price of $129.17. The firm has a market cap of $133.73 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69.

PDD (NASDAQ:PDD) last posted 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. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the prior year, the firm earned $1.27 EPS. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. Research analysts forecast that PDD Holdings Inc. will post 11.05 EPS for the current year.

About 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.