Bridgewater Associates LP Has $168.76 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Bridgewater Associates LP lessened its stake in PDD Holdings Inc. (NASDAQ:PDD) by 0.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,251,860 shares of the company’s stock after selling 3,006 shares during the quarter. PDD comprises about 1.0% of Bridgewater Associates LP’s investment portfolio, making the stock its 17th largest holding. Bridgewater Associates LP’s holdings in PDD were worth $168,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PDD. Advisors Asset Management Inc. boosted its stake in PDD by 39.5% in the 1st quarter. Advisors Asset Management Inc. now owns 1,767 shares of the company’s stock worth $205,000 after purchasing an additional 500 shares during the period. California State Teachers Retirement System lifted its position in shares of PDD by 20.2% in the first quarter. California State Teachers Retirement System now owns 217,319 shares of the company’s stock valued at $25,263,000 after buying an additional 36,595 shares during the last quarter. iA Global Asset Management Inc. boosted its position in PDD by 6.5% during the first quarter. iA Global Asset Management Inc. now owns 73,060 shares of the company’s stock worth $8,493,000 after purchasing an additional 4,467 shares during the period. Artal Group S.A. increased its holdings in shares of PDD by 73.8% in the first quarter. Artal Group S.A. now owns 56,500 shares of the company’s stock valued at $6,568,000 after purchasing an additional 24,000 shares during the last quarter. Finally, Wahed Invest LLC lifted its stake in shares of PDD by 39.0% during the 1st quarter. Wahed Invest LLC now owns 7,501 shares of the company’s stock worth $872,000 after buying an additional 2,103 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PDD shares. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and increased their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Sanford C. Bernstein decreased their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Finally, Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

PDD stock opened at $99.31 on Wednesday. The stock has a fifty day moving average of $123.33 and a 200-day moving average of $129.13. The stock has a market capitalization of $136.64 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 0.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

PDD (NASDAQ:PDD) last posted its 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 net margin of 29.05% and a return on equity of 46.08%. 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 prior year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was up 85.7% compared to the same quarter last year. On average, sell-side analysts expect that PDD Holdings Inc. will post 11.19 earnings per share 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.