186,000 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 186,000 shares of the company’s stock, valued at approximately $25,075,000. PDD makes up 1.5% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 12th biggest position.

Several other large investors also recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new stake in shares of PDD during the 3rd quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. increased its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of PDD in the third quarter valued at approximately $34,000. Finally, Mather Group LLC. boosted 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 worth $51,000 after acquiring an additional 354 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PDD. Barclays cut their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Bank of America reduced their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Sanford C. Bernstein reduced their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Finally, Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and lowered their price target for the company from $194.00 to $120.00 in a 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 given a strong buy rating to the company. According to data from MarketBeat, PDD presently has a consensus rating of “Buy” and a consensus price target of $182.40.

PDD Price Performance

PDD opened at $113.41 on Thursday. The company has a fifty day moving average price of $120.37 and a two-hundred day moving average price of $130.87. The firm has a market capitalization of $156.04 billion, a PE ratio of 12.22, a P/E/G ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 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.

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