BNP Paribas Takes $475,000 Position in PDD Holdings Inc. (NASDAQ:PDD)

BNP Paribas bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the third quarter, HoldingsChannel reports. The institutional investor bought 3,500 shares of the company’s stock, valued at approximately $475,000.

A number of other institutional investors also recently modified their holdings of PDD. Prime Capital Investment Advisors LLC increased its holdings in 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 purchasing an additional 89 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of PDD by 4.6% during the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after purchasing an additional 120 shares in the last quarter. Parallel Advisors LLC boosted its holdings in PDD by 5.3% in the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after acquiring an additional 122 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in PDD by 6.8% in the second quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after acquiring an additional 133 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in PDD by 6.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PDD shares. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and raised their target price for the company from $126.00 to $224.00 in a report on Monday, October 7th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Jefferies Financial Group dropped their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Trading Down 0.5 %

Shares of PDD stock opened at $98.80 on Thursday. The firm has a market cap of $135.94 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.26 and a beta of 0.71. The business has a 50-day moving average price of $123.34 and a two-hundred day moving average price of $128.92. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The company’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 earnings per share. Equities analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

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.