Hsbc Holdings PLC Acquires 228,505 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Hsbc Holdings PLC lifted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,926,773 shares of the company’s stock after acquiring an additional 228,505 shares during the quarter. Hsbc Holdings PLC’s holdings in PDD were worth $522,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PDD. Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the 1st quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in PDD in the second quarter valued at $32,000. Strategic Financial Concepts LLC bought a new position in shares of PDD in the 2nd quarter valued at about $40,000. Mather Group LLC. raised its holdings in shares of PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in PDD during the fourth quarter worth approximately $59,000. Institutional investors own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of recent research reports. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and reduced their target price for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Barclays cut their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. UBS Group lifted their price objective on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Macquarie downgraded PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Finally, Sanford C. Bernstein dropped their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Two investment 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 stock. According to data from MarketBeat, PDD presently has an average rating of “Buy” and a consensus target price of $177.78.

PDD Price Performance

Shares of PDD opened at $98.38 on Wednesday. The company has a market capitalization of $135.36 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The business has a 50-day moving average of $122.40 and a 200-day moving average of $128.97.

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. The business had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share. As a group, equities research analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current 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.