Comgest Global Investors S.A.S. Boosts Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Comgest Global Investors S.A.S. lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 132.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,259 shares of the company’s stock after purchasing an additional 18,408 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in PDD were worth $4,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC grew its position in shares of PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after buying an additional 89 shares during the last quarter. Ballentine Partners LLC grew its position in shares of PDD by 4.6% in the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after buying an additional 120 shares during the last quarter. Parallel Advisors LLC grew its position in shares of PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after buying an additional 122 shares during the last quarter. Legacy Capital Group California Inc. grew its position in shares of PDD by 6.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after buying an additional 133 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in shares of PDD by 6.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after buying an additional 166 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Up 1.5 %

Shares of PDD stock traded up $1.67 during mid-day trading on Friday, hitting $114.00. The company’s stock had a trading volume of 8,874,029 shares, compared to its average volume of 10,573,298. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The business has a 50-day moving average price of $121.59 and a 200 day moving average price of $130.53. 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 stock has a market cap of $156.85 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.27 and a beta of 0.71.

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

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research analyst reports. Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America lowered their target price on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Benchmark lowered their price objective on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Sanford C. Bernstein lowered their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, PDD has a consensus rating of “Buy” and an average target price of $182.40.

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.