Janney Capital Management LLC Sells 1,937 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Janney Capital Management LLC lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 3.2% during the third quarter, HoldingsChannel.com reports. The fund owned 57,706 shares of the company’s stock after selling 1,937 shares during the quarter. Janney Capital Management LLC’s holdings in PDD were worth $7,779,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PDD. Baillie Gifford & Co. increased its stake in shares of PDD by 1.0% in the 2nd quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock valued at $4,670,322,000 after acquiring an additional 348,130 shares in the last quarter. Vanguard Group Inc. increased its stake in PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after purchasing an additional 97,648 shares in the last quarter. Hhlr Advisors LTD. raised 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 valued at $1,370,767,000 after purchasing an additional 1,680,600 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of PDD by 16.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after purchasing an additional 826,525 shares in the last quarter. Finally, Tairen Capital Ltd grew its stake in shares of PDD by 49.8% in the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after buying an additional 1,788,076 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Down 0.0 %

Shares of PDD stock opened at $120.56 on Friday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a 50-day simple moving average of $116.94 and a two-hundred day simple moving average of $130.90. 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 company has a market capitalization of $165.87 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.29 and a beta of 0.71.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period last year, the business posted $1.27 earnings per share. PDD’s revenue was up 85.7% on a year-over-year basis. Research analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on PDD shares. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays cut their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Sanford C. Bernstein dropped their price objective 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. Finally, Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.