Healthcare of Ontario Pension Plan Trust Fund Trims Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in PDD Holdings Inc. (NASDAQ:PDD) by 33.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 382,472 shares of the company’s stock after selling 189,849 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PDD were worth $51,561,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of PDD during the third quarter worth about $27,000. Venturi Wealth Management LLC acquired a new position in shares of PDD during the third quarter worth about $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. grew its position 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. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of PDD during the third quarter worth about $34,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the subject of a number of analyst reports. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $224.00 in a report on Monday, October 7th. Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Three investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Price Performance

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

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