48,417 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by Headlands Technologies LLC

Headlands Technologies LLC purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 48,417 shares of the company’s stock, valued at approximately $6,437,000. PDD comprises about 0.7% of Headlands Technologies LLC’s portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PDD. RV Capital AG increased its position in shares of PDD by 9.4% during the 2nd quarter. RV Capital AG now owns 317,689 shares of the company’s stock worth $42,237,000 after purchasing an additional 27,289 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in PDD by 6.9% during the second quarter. Daiwa Securities Group Inc. now owns 54,512 shares of the company’s stock worth $7,247,000 after buying an additional 3,535 shares during the last quarter. Global X Japan Co. Ltd. raised its position in PDD by 41.6% during the second quarter. Global X Japan Co. Ltd. now owns 129,126 shares of the company’s stock worth $17,167,000 after acquiring an additional 37,950 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in PDD in the second quarter valued at $208,000. Finally, Prudential PLC grew its position in shares of PDD by 22.9% in the 2nd quarter. Prudential PLC now owns 989,157 shares of the company’s stock valued at $131,508,000 after acquiring an additional 184,249 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PDD shares. Jefferies Financial Group reduced their price target on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a report on Monday, August 26th. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $184.00 in a research note on Friday, May 24th. Barclays reduced their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Macquarie lowered shares of PDD from an “outperform” rating to a “neutral” rating in a research report on Monday, August 26th. Finally, Bank of America reduced their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Two research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $177.78.

PDD Price Performance

Shares of NASDAQ PDD traded up $0.32 during midday trading on Tuesday, reaching $92.78. The company’s stock had a trading volume of 828,244 shares, compared to its average volume of 9,639,187. The company has a market cap of $127.65 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.22 and a beta of 0.69. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week 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’s 50 day moving average price is $127.22 and its two-hundred day moving average price is $130.25.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter last year, the business earned $1.27 earnings per share. PDD’s revenue was up 85.7% on a year-over-year basis. On average, analysts forecast that PDD Holdings Inc. will post 11.21 EPS for the current fiscal year.

PDD Company 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.