Swiss National Bank Grows Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Swiss National Bank boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,575,744 shares of the company’s stock after purchasing an additional 229,135 shares during the period. Swiss National Bank’s holdings in PDD were worth $212,426,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in PDD in the third quarter worth $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of PDD during the 2nd quarter worth $32,000. Richardson Financial Services Inc. increased its holdings in shares of PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after purchasing an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in PDD during the third quarter worth about $34,000. Finally, Mather Group LLC. boosted its holdings in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after buying an additional 354 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 1.5 %

PDD stock opened at $114.00 on Monday. The stock has a market capitalization of $156.85 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a 50 day moving average of $121.59 and a 200-day moving average of $130.61. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping 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 business’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 EPS. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research reports. Benchmark cut their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Jefferies Financial Group cut their target price on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Bank of America dropped their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $182.40.

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.